The federal government’s economic stimulus package provides opportunities for all Canadian families to benefit
from and play a part in Canada’s economic renewal through the Home Renovation Tax Credit.
By taking advantage of this and other programs, you are not only helping yourself, you will also be helping
provide livelihoods for tradespeople, store owners and small business people.
How Much Can I Claim?
The HRTC will provide a temporary 15-per-cent income tax credit on eligible home renovation expenditures for
work performed, or goods acquired, after January 27, 2009 and before February 1, 2010. The credit may be
claimed for the 2009 taxation year on the portion of eligible expenditures exceeding $1,000, but not more than
$10,000, and will provide up to $1,350 in tax relief.
Expenditures Eligible
The HRTC be claimed for permanent renovations and alterations to a dwelling or the land on which it sits.
Routine repairs and maintenance will not qualify for the credit. Furniture, appliances, audio-visual electronics
and construction equipment will not be eligible.
Examples of Eligible Expenditures
- 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
Examples of Expenditures That Are NOT Eligible
- 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 on the Home Renovation Tax Credit, visit:
www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html
Or Call My Office at 1-888-790-4747
Remember - You only have until February 1, 2010
to take advantage of this incentive !
