Save Money on Home Renovations
Sunday, March 22nd, 2009Home Renovation Tax Credit (HRTC)
Spend up to $10,000.00 on renovations to your home and you are entitled to a tax credit maximum of $1,350.00. A savings of just over 10%.
The federal government has put together a plan to help stimulate our economy.
Examples of HRTC-Eligible and Ineligible Expenditures
Eligible
- Renovating a kitchen, bathroom or basement
- New carpet or hardwood floors
- Building an addition, deck, fence or retaining wall
- A new furnace or water heater
- Painting the interior or exterior of a house
- Resurfacing a driveway
- Laying new sod
Ineligible
- Purchase of furniture and appliances (e.g. refrigerator, stove, and couch)
- Purchase of tools
- Carpet cleaning
- Maintenance contracts (e.g. furnace cleaning, snow removal, lawn care, and pool cleaning)
For more information visit:
Canadian Budget 2009 - Action to Stimulate Housing Construction