HRTC : A good reason to renovate your home
M2JL :: STUDIO - Kitchen renovation (Before)
If you're home is in desperate need of a little TLC, now's a good time to renovate it. As part of its stimulus package the Canadian government has created an incentive to encourage families to invest in their homes: The Home Renovation Tax Credit (HRTC). If you renovate your home or the land on which it sits between January 27,2009 and February 1,2010, you are eligible to receive up to $1,350 in tax relief on renovation expenses.
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. Renovation costs for projects such as finishing a basement or re-modelling a kitchen will be eligible for the credit, along with associated expenses such as building permits, professional services, equipment rentals and incidental expenses.
For example, the following are eligible for a tax refund :
- 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
So why not hire a designer :) It will make a big difference. See :)
M2JL :: STUDIO - Kitchen renovation (in progress.Check back soon for the final result)
More information on the HRTC is available here site.