Unlike the First-Time Home Buyers Tax Credit (HBTC) and the Home Buyer’s Plan (HBP), the Home Renovation Tax Credit (HRTC) is open to all homeowners, who would like to complete some improvements to their home, condo, or cabin.
The HRTC applies to work performed or goods acquired after January 27, 2009, and before February 1, 2010 under an agreement entered into after January 27, 2009. The HRTC applies to eligible expenses of more than $1,000, but not more than $10,000, resulting in a maximum non-refundable tax credit of $1,350 [($10,000 − $1,000) × 15%].
To find out more information on eligibility and expenses, be sure to check out the Government of Canada’s website, by clicking here, or of course feel free to get in touch with me, by emailing mike@mikewiseman.com.
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