Line 45355 - Multigenerational home renovation tax credit (MHRTC) NEW!

The MHRTC is a new refundable tax credit that allows an eligible individual to claim certain renovation costs to create a secondary unit within an eligible dwelling so that a qualifying individual can reside with their qualifying relation.

If eligible, you can claim up to $50,000 in qualifying expenditures for each qualifying renovation completed, up to a maximum credit of $7,500 for each claim you are eligible to make.

Complete Schedule 12, Multigenerational Home Renovation Tax Credit, to calculate your credit and enter the result on line 45355 of your return.

For more information, go to canada.ca/cra-mhrtc.

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