The temporary HRTC provides a 15% income tax credit on eligible home renovation expenses for work performed or goods acquired after January 27, 2009 and before February 1, 2010.
The credit may be claimed for the 2009 tax year on eligible expenses over $1,000 but not exceeding $10,000 and will provide up to $1,350 tax relief.
What types of products, services and expenses are eligible?
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
Labour costs;
Professional fees;
Building materials;
Fixtures;
Equipment rentals; and
Permits
Ineligible
Purchase of furniture and appliances (ex: refrigerator, stove and couch)
Purchase of tools
Carpet cleaning
Maintenance contracts (ex: furnace cleaning, snow removal, lawn care, and pool cleaning)
