Home Renovation Tax Credit

Don't forget that you may be entitled to cash in your pocket of up to $1,350 as a result of the Home Renovation Tax Credit. Make eligible expenditures before Feb. 1, 2010

The Federal Budget will provide a 15% credit to be claimed on the portion of eligible home renovation expenditures exceeding $1,000, but not more than $10,000, meaning that the maximum tax credit that can be received is $1,350.

Credit can be claimed on eligible expenditures incurred on one or more of an individual's eligible dwellings, including houses, cottages, and condominium units owned for personal use.