Home Renovation Tax Credit Ontario

Canada's Economic Action Plan

Canada's Economic Action Plan's Home Renovation Tax Credit could help you save up to $1350 on home improvements purchased before February 2010.

The Home Renovation Tax Credit is a federal non-refundable tax credit based on eligible expenses for improvements to your house,condo,or cottage exceeding $1000.00 but no more then $10,000.

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

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

Examples of Eligible expenses:

*Renovating a kitchen, bathroom or basement

* New windows,doors and flooring

* Building an addition, garage, deck, shed or fence

* A new furnace,woodstove,fireplace,water softener or water heater

* A new drivewaypr resurfacing a driveway,re-shingling a roof, or painting a house

* Landscaping - new sod, perrenial shrubs, flowers and trees etc

* Swimming pools (permanent - in ground and above ground)

* Fixtures - blinds, shades, shutters,awnings,lights,fans etc

* Associated costs such as permits, professional services, equipment rentals and incidental expenses

Examples of NON-Eligible expenses:

*Furniture,appliances,tools and audio and visual electronics

* Routine repairs, maintenance and cleaning (eg. furnace cleaning, snow removal,lawn care,pool care, house cleaning)

* Financing Costs

So why not put your tax dollars back into your home?

Brought to you By:

Dan and Rachael Polakovic

Sales Representatives

Realty Executives Elite Ltd Brokerage

London Ontario

www.two-realtors.com