In order to add to the existing county and federation medical expenses tax deductions, the home-based nursing home tax credit offers a 25 percent tax deduction on an elderly person’s home medical expenses of up to $ 6,000.
The maximum amount that the credit can clear is $ 1,500.
Under the new credit terms, anyone over the age of 70 can claim expenses related to home nurse visits, home hospital beds, wheelchairs, attendants, sticks, oxygen, goggles or hearing aids.
The credit is refundable and anyone who wins up to $ 65,000 can qualify.
It is estimated to cost taxpayers $ 110 million this year and help up to 200,000 seniors.
The CEO of Home Care Ontario, which represents nurses and co-workers providing home care in the county, welcomed the new tax deduction.
“These investments make Ontario a leader in home care. Like the highly successful Home-Support Services tax credit found in Quebec, Ontario’s new tax deduction will help seniors live more independently, stay at home. “to avoid accidents and illnesses that could force them to seek medical attention,” Sue VanderBend said in a statement issued Thursday afternoon.
