Multigenerational Home Renovation Credit Archives

Multigenerational Home Renovation Credit

February 17, 2024
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Accounting, Tax Planning

The Multigenerational Home Renovation Tax Credit (MGHRTC) is a significant development in Canadian tax policy, designed to support families and caregivers by making it financially easier to accommodate senior family members or those eligible for the disability tax credit within…

Multigenerational Home Renovation Credit Vs. Home Accessibility Tax Credit: Can You Claim Both For the Same Expense?

February 17, 2024
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Uncategorized

The Multigenerational Home Renovation Tax Credit (MGHRTC) and the Home Accessibility Tax Credit (HATC) are distinct tax credits under Canadian tax law, each with its own set of eligibility criteria and rules. The MGHRTC is a refundable tax credit designed…

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