Home Renovation Tax Credit

In the Federal Government's January 2009 budget they included a Home Renovation Tax Credit worth 15% of
the cost of a home renovation project. The incentive is available for projects worth more than $2000 and
a maximum of $1350 can be claimed on the first $10 000 of a home renovation project.

The maximum amount is calculated based on the inability to claim the credit on the first $2000 of the project.
Therefore $1350 is 15% of $8000 ($10 000 less the first $2000).

This incentive is only available until February 1, 2010.

More Information

See Canada Revenue Agency's Home Renovation Tax Credit Webpage