Home Renovation Tax Credit
Home Renovation Tax Credit (HRTC)
This temporary program provides an income tax credit on eligible home renovation expenses for work performed or goods bought after January 27, 2009 and before February 1, 2010. Homeowners can claim a tax credit for 15 per cent of renovation expenses between $1,000 and $10,000 for a maximum credit of $1,350. There is no tax credit for less than $1,000. New additions, decks, carpeting, floorings, heating systems and landscaping qualify. Furniture, appliances, tools and maintenance contracts do not qualify.
For more information on the federal budget, visit: www.budget.gc.ca/2009
Source: REALTOR LINK ® February 13, 2009