Tax, Legal & TRESA

The Multigenerational Home Renovation Tax Credit: How Canada’s $7,500 Credit Works for Building a Suite for an Aging Parent

Canada's Multigenerational Home Renovation Tax Credit (MHRTC) is a refundable credit worth 15% of eligible costs on up to $50,000 — a maximum of $7,500 — for building a self-contained secondary suite so a senior or a disabled adult relative can live with family. Who qualifies, how it is calculated, and how to claim on Line 45355.