2024 Fall Economic Statement: Making it easier for homeowners to build secondary suites
- Date: 2024-12-10 14:15
- Source: Canada All National News
The government of Canada announced today that it will be making it easier for homeowners to build secondary suites. This measure is part of the government’s Fall Economic Statement, which was released today.
The government will provide $200 million over five years to help homeowners build secondary suites. This funding will be used to provide grants and loans to homeowners who want to build a secondary suite.
The government will also introduce a new tax credit for homeowners who build a secondary suite. This tax credit will provide a refund of up to $10,000 for the cost of building a secondary suite.
These measures are designed to make it easier for homeowners to build secondary suites, which can provide a number of benefits. Secondary suites can provide additional income for homeowners, they can help to create more affordable housing, and they can help to make it easier for families to live together.
The government’s measures are expected to encourage the construction of 10,000 new secondary suites over the next five years. This will lead to a number of benefits for homeowners, families, and communities across Canada.
Additional information
- The government’s definition of a secondary suite is a self-contained residential unit that is located within or attached to a single-family home.
- The government’s measures will be available to homeowners who meet certain eligibility criteria.
- The government will provide more details on the eligibility criteria and the application process for the grants and loans in the coming months.
2024 Fall Economic Statement: Making it easier for homeowners to build secondary suites
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