Tax credits, rebates and financing for Calgary renovations in 2026

Multigenerational Home Renovation Tax Credit

A refundable federal credit for renovations that create a self-contained secondary unit, so a senior or an adult eligible for the disability tax credit can live with a relative. You can claim up to $50,000 of qualifying costs for each completed renovation, at the lowest federal tax rate (14.5% for 2025, a maximum of $7,250).

The unit needs its own entrance, kitchen, bathroom and sleeping area, and must meet municipal bylaws, which in Calgary means a permitted suite.

Home Accessibility Tax Credit

A non-refundable federal credit on up to $20,000 a year of renovations that make a home safer and more accessible for a senior (65 or older) or a person eligible for the disability tax credit. Examples include barrier-free showers, grab bars, wider doorways, ramps and stair lifts. Purely cosmetic work and routine repairs don't qualify.

First-Time Home Buyers' GST rebate

For first-time buyers of new homes: a rebate of all the GST on a new home up to $1 million, to a maximum of $50,000, reduced on a sliding scale between $1 million and $1.5 million. It includes homes you build, or hire someone to build, on land you own, when construction or substantial renovation began on or after March 20, 2025 and before 2031. Owner-built claims are made directly to the CRA.

For a custom home build, ask your accountant about eligibility before construction starts, because the dates and the buyer's history matter.

Refinancing to add a suite

Since January 15, 2025, homeowners can refinance with an insured mortgage of up to 90% of the home's post-renovation value, up to $2 million and amortized over up to 30 years, to add a secondary suite. The new unit must be self-contained and rented long term, not as a short-term rental.

Programs that have ended or paused

• The Canada Secondary Suite Loan Program (up to $80,000 at 2%) was cancelled in Budget 2025 before it launched.
• The Canada Greener Homes Loan is fully committed and no longer approves new applications.
• Calgary's Secondary Suite Incentive Program has closed to new applications.
• Calgary's Clean Energy Improvement Program is closed for residential applications until winter 2026/2027.

Keep good records

Every credit depends on paperwork: permits, contracts, itemized invoices and proof of payment. Kay2 provides a detailed fixed-price proposal on every project, which makes it easier to show what each part of the work cost. Your accountant can confirm what applies to your situation.