Browse Ageing Policies

The "Multigenerational Home Renovation Tax Credit" was introduced by the Department of Finance Canada in Budget 2022 and implemented by the Canada Revenue Agency. This policy, effective from January 1, 2023, operates at the national level and targets adults with disabilities who qualify for the Disability Tax Credit (18 years and older) and individuals aged 65 and over. It aims to support multigenerational living by providing financial assistance for home renovations that establish a secondary dwelling unit for eligible persons to live with a qualifying relation. Key measures include a refundable 15% tax credit on up to $50,000 of eligible renovation expenses, which can be claimed once per eligible person over their lifetime. Eligible renovations must be made to the principal residence of the qualifying individual and can be claimed by the eligible person, their spouse or common-law partner, and a qualifying relation who owns the dwelling. Qualifying relations include family members such as parents, grandparents, children, siblings, aunts, uncles, nephews, and nieces. Although data is not yet available due to the measure’s recent implementation, it is projected to cost approximately $25 million CAD for the 2023 tax year.

The project “Generation tandem” aims to support generational exchange and intergenerational solidarity in the labor market. It focuses on retaining pre-retirement workers and aligning the skills of new entrants or those returning to the labour market with job market demands. The project is co-financed by the European Social Fund and the state budget of the Czech Republic. It is managed by the Regional Branch of the Labour Office in Příbram. The project targets job seekers and those interested in employment in the Central Bohemian Region. It specifically focuses on pre-retirement workers and new entrants to the labour market, including graduates and those returning from parental leave or caregiving. The project provides wage subsidies to employers for hiring new employees and retaining pre-retirement workers. It includes training and mentoring programmes to transfer skills from experienced workers to new employees. Employers must retain pre-retirement workers for at least six months after the subsidy period. Regarding observed impacts, the project has enhanced job security for older workers and facilitated the transfer of knowledge to younger employees, improving their employability. The project was implemented from January 1, 2016, to April 30, 2023.