Ontario government offers Home renovation GRANTS

Ontario government offers Home renovation GRANTS

There are numerous renovation grants available to Ontario homeowners and Canadian professional real estate investors. Ranging from a few hundred dollars to several thousand, programs are offered by different levels of government and partner organizations.

The province of Ontario offers a variety of grants, incentives and tips to help you reduce your energy use and make your home more resilient to extreme weather. When to reduce energy use, conserve resources, save money and help the environment at the same time.

Whether you want to improve the energy efficiency of your home, get a grant to green your community, or find simple ways to green your life, we'll help you get started.

[b]Ontario Senior Homeowners' Property Tax Grant[/b]

This grant helps seniors with the cost of their property taxes.

How much money could I receive?

You could get up to $500 each year.Use the online calculator to see how much money you can get1

Do I qualify?

You may qualify for the grant if:

you or your spouse/common-law partner paid Ontario property tax in the previous year
you meet the income requirements
as of December 31 of the previous year, you:
were 64 years of age or older
were a resident of Ontario
owned and occupied your principal residence (or your spouse/common-law partner did).

Who's considered an Ontario resident? How is the amount I get for the grant calculated?

If you are single, separated, divorced or widowed2

You could get $500 if your adjusted family net income (income) for the previous year was $35,000 or less.

Your grant is reduced by 3.33 per cent of your income over $35,000.

If your income was $50,000 or more, you do not qualify for this grant.
If you are married or living common-law

You could get $500 if your adjusted family net income (income) for the previous year was $45,000 or less.

Your grant is reduced by 3.33 per cent of your income over $45,000.

If your income was $60,000 or more as a couple, you do not qualify for this grant.

You and your spouse or common-law partner cannot both qualify for this grant: only one of you can receive money.

The Ontario government also offers a number of home renovation incentives, including the Healthy Homes Renovation Tax Credit. If you are over 65 and are planning a renovation to make your home safer and more accessible, you can claim up to $10,000 worth of eligible home improvements on your tax return. For more information, search for Healthy Homes Renovation Tax Credit at ontario.ca.

As well, the provincial government recently partnered with Enbridge to create the Home Energy Conservation (HEC) Program, which offers grants of up to $2,100. The program is open to people using natural gas, oil and propane boilers/furnaces or wood stoves.

HEC can provide $150 dollars towards a Home Energy Audit and up to $1,950 for upgrades such as insulation, air sealing, window replacement, heating system or hot water, just to name a few. Visit knowyourenergyscore.ca to check if you’re eligible.

Talk to your renovator and other professionals if you are thinking of applying for any government renovation programs or incentives. Professional renovators can help you better understand the program, let you know if you are eligible and walk you through the application process.

One of the advantages of working with professional renovators is that you can benefit from their knowledge and experience. Take that into consideration when hiring your renovator and be sure to ask lots of questions.

Hire a renovators who is licensed, bonded and have a WSIB number. All renovators and trade contractors must abide by a renovation-specific code of conduct that includes things such as providing a written contract, offering a minimum $2 million in liability insurance and providing two years’ warranty on all work.

To get more information and buy the latest the directory of all Canadian real estate grants, please go to www.GovernmentGrantsCanada.ca

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

Speaking Engagements
Navtaj Chandhoke can be your next key note speaker for real estate/sales/marketing office meeting or Canadian real estate investment conventions, expos or trade shows. Please contact us for topics and availability.
Please contact us directly at Pam@WorldWealthBuilders.com or 647-393-6100 to set up a session at your meeting or convention.

Flipping for instant profit LIVE real estate training seminar
Reserve your seat now at
www.Flipping4Profit.ca
Image

Special Sale Forgivable Canadian Business & Real estate Grants, Canadian Credit Repair
Image

Alberta Foreclosure LIVE Training 2017
Image

Canadian Creative Financing Apprenticeship
Image

Canadian Real Estate Investors Coaching & Mentoring
Image

Eyewitness Canadian Real Estate Investors Training
Image

We buy houses all CASH, Fast closing
Image

P.S. Success isn't a matter of chance, it's a matter of choice. So it's up to you to make the right choice to become successful. If you don't know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now at www.Flipping4Profit.ca and making sure you make the right choice to SHOW UP!!! Learn more to earn more!

Be Sociable, Share!