Editor’s note: An earlier version of this story incorrectly stated the number of multigenerational households in Canada as of 2021. The correct number is nearly 442,000 and has been updated. Global News regrets this error.
A renovation tax credit aimed at boosting the number of multigenerational homes in Canada is estimated to cost the federal government roughly $44 million over the next five years, according to the parliamentary budget officer (PBO).
The independent watchdog released its estimate on Wednesday for the Liberal government’s refundable tax credit for multiple generations of a family living together, which came into effect on Jan.