Home Renovation Tax Credit
The proposed HRTC is a non-refundable tax credit for work performed or goods acquired in respect of an eligible dwelling.
The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000, but not more than $10,000, resulting in a maximum credit of $1,350 ($9,000 x 15%).
To be eligible, expenditures incurred in relation to a renovation or alteration to an eligible dwelling (or the land that forms part of the eligible dwelling) must be of an enduring nature and integral to the dwelling, and includes the cost of labour and professional services, building materials, fixtures, rentals, and permits. Eligible expenditures must be supported by acceptable documentation.
Some examples of eligible expenditures: Renovating a kitchen, bathroom or basement; New carpet or hardwood floors; Building an addition, garage, deck, garden/storage shed, fence; Re-shingling a roof; A new furnace, woodstove, boiler, fireplace, water softener or water heater; A new driveway or resurfacing a driveway; Painting of interior or exterior of a house; Window coverings directly attached to the window frame and whose removal would alter the nature of the dwelling; Laying new sod; Swimming Pools (Permanent – in ground and above ground); Fixtures – lights, fans, etc.; Associated costs such as permits, professional services, equipment rentals and incidental expenses.
A new line will be incorporated in the 2009 personal income tax return allowing to claim the credit.
For more information go to Home Renovation Tax Credit
The proposed HRTC is a non-refundable tax credit for work performed or goods acquired in respect of an eligible dwelling.
The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000, but not more than $10,000, resulting in a maximum credit of $1,350 ($9,000 x 15%).
To be eligible, expenditures incurred in relation to a renovation or alteration to an eligible dwelling (or the land that forms part of the eligible dwelling) must be of an enduring nature and integral to the dwelling, and includes the cost of labour and professional services, building materials, fixtures, rentals, and permits. Eligible expenditures must be supported by acceptable documentation.
Some examples of eligible expenditures: Renovating a kitchen, bathroom or basement; New carpet or hardwood floors; Building an addition, garage, deck, garden/storage shed, fence; Re-shingling a roof; A new furnace, woodstove, boiler, fireplace, water softener or water heater; A new driveway or resurfacing a driveway; Painting of interior or exterior of a house; Window coverings directly attached to the window frame and whose removal would alter the nature of the dwelling; Laying new sod; Swimming Pools (Permanent – in ground and above ground); Fixtures – lights, fans, etc.; Associated costs such as permits, professional services, equipment rentals and incidental expenses.
A new line will be incorporated in the 2009 personal income tax return allowing to claim the credit.
For more information go to Home Renovation Tax Credit
ENERGY STAR Rebates and Incentives
Check out Details on Rebates and Incentives for Selected ENERGY STAR® Qualified Products in Canada
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