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Home Renovation Tax Credit Expires Soon!

Posted On: 2010-01-25

The Home Renovation Tax Credit, a hugely popular incentive for homeowners to renovate or improve their homes, is set to expire January 31st.  More than 4 million Canadians have inquired about this program and time is running out to benefit.  On the table is a 15% income tax credit for eligible renovation expense between $1,000 and maxing out at $10,000.  In other words each family is able to get a $1,350 reduction in their income tax payable for 2010!  These reno’s must have occurred between January 27, 2009 and February 1, 2010.  Any supplies/materials must have been purchased and in your possession, and work must be completed by Feb 1st  to qualify.  Link to full article.

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