Home Renovation Tax Credit

February 01, 2009

Home Renovation Tax Credit

You may be able to claim a 15% tax credit on eligible renovation expenditures of over 1,000 but not more than $10,000. This credit can be used for renovations to the dwelling or the land on which it sits.

Eligible expenditures:

Renovating kitchens, bathrooms
Installing new carpets or floors
Painting
Installing a new furnace
Repaving a driveway or laying new sod

Ineligible expenditures:

New appliances
Maintenance
Furniture

For further information please see the Department of Finance Website:

http://www.budget.gc.ca/2009/pamphlet-depliant/pamphlet-depliant3-eng.asp