Sunday 05th of September 2010
HRTC Page
Home Renovation Tax Credit The Government of Canada has granted home owners with the ability to do improvements around the house and qualify for a tax credit. Taking advantage of the HRTC can be done without spending alot of money. All you have to do is in a safe place keep all your original receipts of eligible purchases and labour costs throughout until February 1st 2010 and present them when you complete your 2009 tax return. The credit will be ONLY available for the 2009 tax year and applies to eligible expenditures. The maximum tax credit allowed is $1,350.00 and is calculated as if you spend $9000.00 x 15% = $1350.00. So 15% of what ever your expenses are between $1000.00 to $9000.00. Please be aware that this tax credit is used to reduce your Net Federal Tax and not a rebate! (See Schedule 1 of your T1 for 2009). For further information on the HRTC please visit:
Work Performed by a Drain Specialist or Plumber like ourselves (Rooter Group Inc.) qualifies for the Home Renovation Tax Credit.
So now is the perfect time before the credit is no longer applicable to get those home improvement projects off your ‘to do’ list.
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