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Home Renovation Tax Credit UP TO $1,350
Canada Offers Home Renovation Tax Credit (HRTC) Stimulus for 2009
Canada has introduced an economic stimulus for 2009 in the form of a temporary Home Renovation Tax Credit (HRTC), which includes furnaces and central air conditioners among eligible expenses.
The Home Renovation Tax Credit (HRTC) is a non-refundable tax credit that can be claimed on the 2009 income tax return based on eligible expenditures for home renovations after January 27, 2009, and before February 1, 2010. Restrictions apply. See Canada Revenue Agency Web site for details.
The HRTC provides a 15 percent tax credit for eligible home renovation project expenses up to $10,000, minus the first $1,000. The maximum tax credit is $1,350.
The Canada Revenue Agency reminds taxpayers that individual taxpayers making claims on their tax returns are responsible for ensuring that all eligibility requirements are met. If the total of all the taxpayer's non-refundable tax credits is more than the taxpayer's federal income tax, that taxpayer will not receive a refund for the difference.
Canadian HRTC At-a-Glance
NOTE: No guarantees are given or implied as to the eligibility of an individual to receive a tax credit under this program or how such credit would apply. Please consult a tax professional to determine your eligibility for and application of the credit(s).
| Effective Dates: |
The 2009 Home Renovation Tax Credit (HRTC) is available for eligible renovations made after January 27, 2009 and before February 1, 2010. |
| Amount of Tax Credit: |
15% of eligible home renovation project expenses up to $10,000, minus the first $1,000. (The first $1,000 of expenses are not used in the tax credit calculation.) The maximum home renovation tax credit is $1,350 [($10,000 - $1,000) x 15%].
Eligible Expenses:
The HRTC can be claimed for renovations and enduring alterations to a dwelling, or the land on which it sits. 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. Restrictions apply. See Canada Revenue Agency for eligibility details. |
| How to Claim Tax Credit: |
Specific information on how to claim the tax credit should be obtained directly from the Canada Revenue Agency. Eligible expenditures must be supported by acceptable documentation.
Sources for more information about the HRTC and other Canadian rebates and incentives:
Canada Revenue Agency Phone: 1-800-959-8281
Canada Revenue Agency (CRA) - Home Renovation Tax Credit: Answers to HRTC
Questions
For further information, call CRA's individual income tax enquiries service at 1-800-959-8281 (1-800-959-7383 for French).
EcoEnergy
Ontario
Ontario Power Authority
Other Associated Rebate Programs
ARI
NRCAN
Note: Information presented at these sites represents the opinions of independent third-party organizations and cannot be endorsed or verified by International Comfort Products. |
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