Reno programs

Home Renovation Tax Credit
NOTE: the date for submitting the home renovation tax credit has now passed. This information is only for reference

The federal government?s Home Renovation Tax Credit can provide up to $1,350 in tax credits when you renovate your home. The program is temporary, though: all work must be completed by February 1, 2010.

The 15-per-cent credit may be claimed on the portion of eligible expenditures exceeding $1,000, but not more than $10,000?meaning that the maximum tax credit you can get is $1,350 (15% of $9000).

Renovation costs for projects such as finishing a basement or remodelling a kitchen are eligible, as well as associated expenses such as building permits, professional services, equipment rentals and incidental expenses.

Note that routine repairs and maintenance do not qualify for the credit. Nor does the cost of purchasing furniture, appliances, audio-visual electronics or construction equipment.

Source: Budget 2009
http://www.budget.gc.ca/2009/plan/bpc3c-eng.asp