HomeReno.com News

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

Tags: HRTC, renovation, tax credit

This entry was posted on Friday, May 8th, 2009 at 2:25 pm and is filed under Saving Money. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.