Seniors home renovation tax credit to be introduced

The Gallant government plans to introduce a tax credit for seniors to renovate their houses so they can live at home longer, Social Development Minister Cathy Rogers announced on Wednesday.

The[programwill provide a refundable personal income tax credit of upto $1,000 a year on eligible expenses of up to $10,000, effective this year,said Rogers.

The creditwillbe available to seniors who are homeowners,seniors who are renting, as well as family members who are living with a senior, she said.

It will helpseniors "maintain their independence and remain in their homes and communities for as long as possible," Rogers said in a statement.

Finance Minister Roger Melanson says the initiative will also create jobs in the construction industry and generate an estimated $15 million in spending to support the economy.