Financial And Tax Credit Information For Senior Residents
For your convenience, the Wales Home offers an automatic withdrawal system for paying fees. A tax credit for senior residents is available to help pay for a portion of the rent and services. The Wales Home administration will be happy to help residents fill out their tax credit forms to ensure they receive the maximum cash back. Our senior residents often have a petty cash account they use to pay for any extras such as the hairdresser, medication or tuck shop. Once the petty cash runs low it can be replenished either by family members or the residents themselves. The Wales Home accountant is available to answer residents’ questions and assist our senior residents with the financial help they need to fill out the necessary forms.
TAX CREDIT INFO
Residents of the Wales Home who are 70 or older are entitled to a 30% tax credit. The more you pay for rent and services, the larger your tax credit. The Wales Home administration will be happy to give seniors the financial help they require to fill out the tax credit forms to ensuring that they receive the maximum cash back. The Wales Home has a contract with Veterans Affairs Canada, which subsidizes a large part of veterans’ rent; veterans are therefore only eligible for a percentage of the tax credit.
Included in the rent.