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Home Accessibility Tax Credit – Eligible Expenditure

Home Accessibility Tax Credit

Expenditures must be on work of an enduring nature and integral to the building before they are eligible for the home accessibility tax credit.

Amounts that CANNOT be claimed include:

  • Costs incurred to improve or maintain the value of the residence;
  • Repairs and maintenance;
  • Appliances and audio-visual equipment; or
  • Goods or services provided by non-arm’s length person.

Qualifying expenditures must be those that enable the individual to gain access, to be more mobile, or to be more functional within a dwelling. Expenditures on items that reduce the risk of harm also qualify.

These expenses may also be claimed as a medical expense and as part of the Ontario Healthy Homes Renovation Tax Credit.

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Pro Tip

ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.

Testimonial

Sam Faris reduced the significant unreported income based on net worth audit to be nil. Sam’s approach in fighting these types of complex audits is unique and sophisticated. He found countless mistakes made by the auditor which were rectified when Sam appealed the audit decision. Instead of owing significant amount of taxes, Sam reduced it to zero. I highly recommend to hire Sam for this type of audits and any CRA problem.”

E.M., Ottawa
pro-tip

Pro Tip

ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.