HOME RENOVATION TAX CREDIT

by Cosmos Electrical Company, Toronto over 3 years ago

Put your tax dollars back into your home.
Canadas Economic Action Plan…
Home Renovation Tax Credit

Canada’s Economic Action Plan’s Home Renovation Tax Credit could help you save up to $1,350 on home improvements purchased before February 1st, 2010.

It is based on elgiable expenses for improvements to your House, Condo, or Cottage exceeding $1,000 but not exceeding $10,000.

Be sure to get your contracts in writing, keep your recipts, and claim the credit on your 2009 income tax return.

Examples of Eligible expences

-Renovating a kitchen, bathroom or basement
-Building an addition, garage, deck or fence.
-New light fixtures in your house
-Landscape Lighting upgrade
-60 Amp to 100/200 Amp service upgrade

Examples of Non Elgiable Expenses

-Furniture, appliances, tools and Audio Visual
-Routine repairs and maintenance and cleaning
-Financing Costs

Eligible expenses must be of an enduring nature and integral to your property.