Our Federal government has decided to spend money to rejuvenate the economy. One of their initiatives is to allow people to claim 15% of their home renovation costs on their 2009 tax return.
What does this mean for you? Well, if you are renovating or would like to renovate this year, you will receive up to $1350 in credits on your tax bill. Please be aware that you must spend between $1000 and $10,000 before February, 2010.
What kind of renovations can be done? Kitchen, bathroom, flooring, decks and furnaces are all eligible.
Be sure to look on the government's websites and see what other tax breaks/rebates you can find.