VANCOUVER, BC , April 13, 2022 /CNW/ - Through Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, the government of Canada makes targeted and responsible investments to create good jobs, grow our economy, and build a Canada where nobody gets left behind.
Today, Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough met with representatives from Disability Alliance BC to discuss their Right Fit Project, which helps facilitate accessible and inclusive housing for persons with disabilities in the Vancouver region. She highlighted Canada's investments for making housing more accessible and safe for everyone across the country by doubling the Home Accessibility Tax Credit.
Budget 2022 housing measures are an investment to ensure that all Canadians have a safe and affordable place to call home. To support opportunities for seniors and persons with disabilities to live and age at home, Budget 2022 proposes to double the Home Accessibility Tax Credit, with the qualifying expense limit increasing to $20,000 for the 2022 and subsequent tax years. This signifies a tax credit of up to $3,000—an increase from the previous tax credit of up to $1,500.
Renovations and alterations to make homes safe and accessible can be costly, which many seniors and persons with disabilities find hard to afford, despite the fact that they are needed to allow for safe living. Through the Home Accessibility Tax Credit, the Government of Canada provides support to offset some of these costs. This proposed increase will help make significant alterations and improvements more affordable, including:
- the purchase and installation of wheelchair ramps, walk-in bathtubs and wheel-in showers;
- the widening of doorways and hallways to allow for the passage of a wheelchair or a walker;
- building a bedroom or a bathroom to permit first-floor occupancy; and
- the installation of non-slip flooring to help avoid falls.
Canada entered the pandemic with the lowest net debt-to-GDP ratio of all G7 countries—an advantage that has since increased relative to other countries. Canada has seen the best jobs recovery in the G7, and as of March 2022, has recovered 115 per cent of the jobs lost at the height of the pandemic, with an unemployment rate that sits at just 5.3 per cent—the lowest rate on record since 1976. With Budget 2022, Canada will maintain this leading position, and maintain its fiscally responsible approach to economic growth and to building an economy that works for everyone. Crucially, it upholds the government's fiscal anchor—a declining debt-to-GDP ratio and the unwinding of COVID-19-related deficits, which will ensure that Canada's finances remain sustainable in the long-term.
"Budget 2022 is about growing our economy, creating good jobs, and building a Canada where nobody gets left behind. Our plan is responsible and considered, and it is going to mean more homes and good-paying jobs for Canadians; cleaner air and cleaner water for our children; and a stronger and more resilient economy for years to come."
- The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
"We need more affordable housing, but also more accessible and inclusive housing. Persons with disabilities should not have to pay out of pocket to make their home safe and liveable, and we're going to help make sure they don't have to. As we address the changing realities of housing in Canada, we will continue to ensure that no one is excluded, and that everyone has a safe place to call home."
- The Honourable Carla Qualtrough, Minister of Employment, Workforce Development and Disability Inclusion
- Other measures in Budget 2022 to make housing more affordable include:
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- Putting Canada on the path to doubling the construction of new homes in the next decade;
- Helping Canadians buy their first home, including by introducing the Tax-Free First Home Savings Account and doubling the First-Time Home Buyers' Tax Credit;
- Launching a new Housing Accelerator Fund that will target the creation of 100,000 net new housing units in the next five years;
- Developing a Home Buyers' Bill of Rights and bringing forward a national plan to end blind bidding;
- Banning foreign buyers from owning non-recreational residential property for two years; and
- A Multigenerational Home Renovation Tax Credit that will provide up to $7,500 in support for constructing a secondary suite or apartment.
SOURCE Employment and Social Development Canada
Jane Deeks, Director of Communications, Office of the Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough, [email protected]; Media Relations, Department of Finance Canada, [email protected], 613-369-4000
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