Home Renovation Tax Credit
Homeowners may be eligible for a tax credit when filing their 2009 tax return, of up to 15 per cent of eligible home renovation expenditures between $1,000 and $10,000.
Some examples of eligible expenses include:
- Renovating a kitchen, bathroom, or basement
- Windows and doors
- New carpet or hardwood floors
- New furnace, boiler, woodstove, fireplace, water softener, water heater, or oil tank
- Central air conditioner
- Painting the interior or exterior of a house
- Building an addition, garage, deck, garden/storage shed, or fence
- A new driveway or resurfacing a driveway
- Associated costs such as installation, permits, professional services, equipment rentals, and incidental expenses
- Generally, work performed by electricians, plumbers, carpenters, architects, etc. in respect of an eligible expense qualifies.
Qualifying taxpayers can claim the HRTC when filing their 2009 tax return.
Posted by Neelu Nijjar
on November 23, 2009