Renovating your home this summer?

A new refundable tax credit for households that renovate their home, expand it, adapt it to the special needs of a family member or convert it into an intergenerational house has been implemented on a temporary basis.

This new credit is intended for individuals who are homeowners and who hire a qualified contractor to carry out renovation work on their principal residence under a contract entered into after April 24, 2014, and before July 1, 2015.

The amount of the tax credit corresponds to 20% of the portion of an individual's eligible expenses that exceeds $3,000, up to a maximum tax credit of $2,500.

 

Get more details on how to qualify here. 

 

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Desiree Ofter

Desiree Ofter

Residential Real Estate Broker
CENTURY 21 Max-Immo
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