Effective 28 Jan 29 through Jan. 31, 2010, homeowners can claim a tax credit for 15 per cent of renovation expenses between $1,000 and $10,000. The maximum tax credit (on $9,000 in renovations) is worth $1,350.
The Home Renovation Tax Credit (HRTC) is designed to get Canadians spending now to help create jobs in industries typically hurt by an economic downturn.
The tax credit would apply to a variety of home improvements, such as renovating a kitchen, bathroom or basement, new carpet or hardwood floors, building an addition, deck, or fence, installing a new furnace, painting the inside or outside of a house, or laying new sod.
Expenses such as building permits, professional services, and equipment rentals are also eligible. Routine repairs and maintenance will not qualify for the credit. Nor will the cost of purchasing furniture, appliances, electronics, or construction equipment.
Houses, cottages and condominium units owned for personal use are eligible.
FOR DETAILED INFORMATION PLEASE GO TO THE FOLLOWING LINK ...
http://www.thestar.com/News/Canada/article/578414
The Home Renovation Tax Credit (HRTC) is designed to get Canadians spending now to help create jobs in industries typically hurt by an economic downturn.
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