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Home Renovation Tax
Credit
Program
Homeowners may be eligible for a tax credit, when filing their 2009 tax
return, of up to 15 per cent of eligible home renovation expenditures exceeding
$1,000, but not more than $10,000.
Details
The Home Renovation Tax Credit (HRTC) applies to eligible home
renovation expenditures for work performed, or goods acquired, after
January 27, 2009 and before February 1, 2010, pursuant to agreements
entered into after January 27, 2009.
The HRTC can be claimed for renovations and enduring alterations to
a dwelling, or the land on which it sits.
The 15 per cent HRTC credit may be claimed on the portion of
eligible expenditures exceeding $1,000, but not more than $10,000,
meaning that the maximum tax credit that can be received is $1,350.
The credit can be claimed on eligible expenditures incurred on
one or more of an individual’s eligible dwellings. Properties eligible
for the HRTC include houses, cottages, and condominium units that are
owned for personal use.
Examples of HRTC 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 ineligible expenditures:
Furniture and appliances
Purchase of tools
Carpet cleaning
Maintenance contracts (furnace cleaning, snow removal, lawn
care, pool cleaning, etc.)
Taxpayers can claim the HRTC when filing their 2009 tax
return.
For more information contact Service Canada at 1-800-662-6232 or visit
www.fin.gc.ca
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