Two programs for energy savings include rebate of 50% of the cost of a home energy audit and up to $10,000 in rebates for the eco-energy Retrofit program.
The Ontario Home Energy Savings Program is an energy conservation program from the Government of Ontario. A Home Energy Audit identifies improvements you can make to your home's heating, cooling, hot water heating and other energy uses that could result in hundreds of dollars in energy savings each year. The Government of Ontario will pay 50% of your Home Energy Audit, up to $150
Many of the energy-saving upgrades identified by your Home Energy Audit will qualify you for rebates under the the Government of Canada's ecoENERGY Retrofit - Homes program. These rebates from the Governments of Ontario and Canada can reimburse you up to $10,000* when you complete improvements identified by your audit.
For more information see http://www.homeenergyontario.ca/
Home Renovation Tax Credit The recent federal budget outlined a new tax credit that will provide assistance for homeowners to renovate their homes. From January 28, 2009 to Februaury 10, 2010, Canadian homeowners can claim a 15%, non-refundable tax credit for eligible expentures after a $1,000,00. minium to an expenditure of $10,000 for a maximum credit of $1,350 ($9000 x 15%). This is in addition to the EcoEnergy retrofit program. Taxpayers can claim the HRTC when filing their 2009 tax return.
Example:
A couple replace all windows in the house and spend $10,000.00 in 2009. After taking into account the $1,000 minimum threshold, a 15-per-cent credit will be available on $9,000 in eligible expenditures, providing a tax credit of $1,350.
The credit is subject to the principle residence only and one credit per household. Homeowners should save all recipts that qualify and claim them on their 2009 tax return.
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