Home Renovation Tax Credit (HRTC)
The proposed HRTC is a non-refundable tax credit for work performed or goods acquired in respect of an eligible dwelling. An eligible dwelling is a housing unit that is eligible to be an individual's principal residence or that of one or more of their family members, at any time between January 27, 2009 and February 1, 2010. The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000, but not more than $10,000, resulting in a maximum credit of $1,350 ($9,000 x 15%).
Examples of items covered by the HRTC include:
Renovating a kitchen, bathroom or basement
New carpet or hardwood floors
Building an addition, garage, deck, garden/storage shed, fence
Re-shingling a roof
A new furnace, woodstove, boiler, fireplace, water softener or water heater
A new driveway or resurfacing a driveway
Painting of interior or exterior of a house
Window coverings directly attached to the window frame and whose removal would alter the nature of the dwelling
Laying new sod
Swimming Pools (Permanent - in ground and above ground)
Fixtures - lights, fans, etc.
Associated costs such as permits, professional services, equipment rentals and incidental expenses
For further information, call 1-800-959-8281 or 1-800-959-7383 for French
Posted by Linda Abriel
on June 1, 2009