Archive for May, 2009

Want to save money with a more energy efficient home?

Thursday, May 21st, 2009

The Government of Canada has expanded the ecoENERGY Retrofit program which provides homeowners with up to $5,000 per unit for energy efficiency improvements.

To apply you must hire a Natural Resources Canada certified energy advisor to perform an energy evaluation of the home BEFORE you make any improvements. Choose the recommended improvements to complete and have a post evaluation done within 18 months or before March 31, 2011 (whichever comes first). After the post evaluation you will receive a cheque for your improvements within 90 days!

By implementing the energy retrofit recommendations, a typical homeowner could save $700 a year on a $2,000 annual heating bill.

Homeowners who apply for the ecoENERGY Retrofit program can also apply for the temporary Home Renovation Tax Credit.

For more information about the ecoENERGY Retrofit program check out the Natural Resources Canada website.

Looking for more ways to save? Check out the Provincial and Territorial grants being offered in your area.

Cash for home insulation

Thursday, May 21st, 2009

The city of Toronto is considering a program that will help home owners upgrade their home insulation to more energy efficent materials.

Toronto Star reporter Paul Moloney writes about the city’s commitment to energy efficeiency and a greener environment.

Once Toronto funding is in place, homeowners could qualify for up to $1,700 for ceiling insulation; $4,250 to insulate exterior walls; and $2,800 for foundation insulation, said Lawson Oates, director of the Toronto Environment Office. The combined grants are expected to cover up to 70 per cent of project cost, with the homeowner providing the rest. Eligible properties include single-detached and semi-detached homes, townhouses and stacked townhouses.

Read the full story here.

For more information about home improvement grants visit Natural Resources Canada

Home Renovation Tax Credit

Friday, May 8th, 2009

Thinking of renovating your home this year? The Canadian federal government is offering a Home Renovation Tax Credit for homeowners making improvements that can save you up to $1350 this year.

There are a number of expenditures eligible for the HRTC, including:

  • 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.


Want to learn more?

Canada Revenue Agency http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html


More about the HRTC

Canada Ministry of Finance - http://www.fin.gc.ca/act/hrtc-cird/pamphlet-depliant3-eng.pdf

Environment Canada - http://www.ec.gc.ca/education/default.asp?lang=En&n=D8398275-1

Renovation tax credit ‘too good to pass up’ by Ellen Roseman - http://www.thestar.com/business/article/629592