Canadian Revenue Agency Home Renovation Tax Credit: Renovate & Receive a Tax Credit o

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Attention home owners, the Government of Canada is offering a very interesting incentive for home renovation. You can receive up to $1350 back as a tax credit for the 2009 tax year when you pay for renovation goods or services for an eligible dwelling. Here's a sample of qualifying expenditures straight from the Canadian Revenue Agency website:

• 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
• Fixtures – lights, fans, etc.
• Associated costs such as permits, professional services, equipment rentals and incidental expenses

The credit applies to eligible expenditures of more than $1000, but not more than $10,000. It looks to be in the amount of 15% of your expenditure.

If you're considering this, an interesting place to start is Home Depot. Until April 12, 2009, if you spend $1000 to $10,000 on products and services that may qualify for the Home Renovation Tax Credit and pay with your Home Depot Consumer Credit Card, you can receive 10% back in Home Depot gift cards. Put that together with the HRTC and you might be looking at some big savings! You'll find more details on the Home Depot website (top of the page).

Find more Canadian deals at RedFlagDeals.com

 

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