TP-1029.TM-V: Grant for Seniors to Offset a Municipal Tax Increase

To apply for the grant, the following conditions must apply:

• Your family income for 2023 is less than the maximum threshold set by Revenu Québec for this amount
• You received or will receive a municipal tax bill for your home for 2024 in your name, or in another co-owner’s name
• Your home is a residential building consisting of only one dwelling
• Your home is your principal residence

Note: A principal residence refers to the dwelling which you, your spouse, your former spouse, or your child used as a housing unit during the year. There are, however, several conditions that must be met before a home can be designated as a primary residence. For more information, refer to the Revenu Québec website.

In addition, you must meet one of the following two conditions:

• A potential grant amount, determined in the current assessment roll, is shown on either your 2024 municipal tax bill or on a document titled Amount of the Potential Grant to Offset a Municipal Tax Increase (this document is issued by your municipality)
• A grant was provided to you or to a co-owner of the residence in the last year covered by the previous assessment roll

Note: If you’re no longer the owner of your home (on or before the billing date shown on the 2024 municipal tax bill), you won’t be able to claim this grant for 2023, even if your name appears on the municipal tax bill.

In some cases, your home may have been owned by your spouse before you became an owner. If that’s the case, that period of ownership still counts towards the previously mentioned 15-year time frame. If you’re a co-owner of your home, you can split the grant, but you’ll have to make sure that each co-owner files a separate copy of the TP-1029.TM-V form with their respective tax returns.

Example:

Francine purchased her home in 1999. In 2010, she married George and subsequently made him a co-owner of her property. Even though George has only co-owned this property for 9 years, he can still claim this credit on his return because the period of time during which Francine was the sole owner still counts towards the 15-year ownership requirement.

Note: If there’s more than two co-owners of your home, you’ll need to file paper returns (not electronically), and you’ll need to include a separate sheet listing each owner’s name and social insurance number.

When a property assessment roll is performed, it allows a municipality to take inventory of all the properties (buildings and land included) located within its territory, and determine their value. Assessment rolls are performed by municipalities every 3 years.

If the current assessment roll for your property is for the years 2024, 2025, and 2026, it means that the last year covered by your previous assessment roll is 2023 (this assessment 2025 covers the years 2021, 2022, and 2023). It also means that you’ll need to report the grant amount issued to you (and any other co-owner) for 2023 and claimed on your 2022 Québec return.

Follow these steps in H&R Block’s 2023tax software:

Before you begin, make sure you told us that you lived in Québec on December 31, 2023.

1. On the left navigation menu, under the Credits & deductions tab, click Other.
   
2. Under the CREDITS FOR SENIORS heading, select the checkbox labelled Grant for seniors to offset a municipal tax increase (TP-1029.TM-V) and click Continue.
   
   
3. When you arrive at the page for the Grant for seniors to offset a municipal tax increase, enter your information into the tax software.