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This credit is based on eligible expenditures for work preformed or goods acquired after January 27, 2009 an before February 1, 2010. An individual's principal residence where it is owned by the individual and ordinarily inhabited by the individual will be considered as an eligible dwelling. The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000 but not more than $10,000 resulting in a maximum credit of $1,350. ($9,000. X 15%) ELIGIBLE EXPENSES - Renovating a kitchen, bathroom, or basement
- Windows and doors
- New carpet and hardwood floors
- A new furnace, woodstove, boiler, fireplace, water softener, water heater or oil tank
- Home ventilation systems of a permanent nature
- Central air conditioning
- Permanent reverse osmosis systems
- Septic Systems
- Wells
- Fixtures - blinds, shades, shutters, lights, fans, etc.
- Electrical wiring in the home ( example, changing from 100 amp to 200 amp service
- Home security System - monthly fees do not apply
- Solar panels and solar panel trackers
- Painting of interior or exterior of a house
- Building an addition, garage, deck, garden shed fence
- Re-shingling a roof
- A new driveway or resurfacing a driveway
- Exterior shutters and awnings
- Permanent swimming pools - in ground and above ground
- Permanent hot tub
- Pool liners
- Solar heating and heat pumps for pools does not include solar blankets
- Landscaping: new sod, perennial shrubs and flowers, trees, large rocks, permanent garden lighting, permanent water fountain, permanent water ponds, large perennial garden ornaments
- Retaining wall
- Associate such as installation, permits, professional services, equipment rentals and incidental expenses
INELIGIBLE EXPENSES - Furniture, appliances, and audio and visual electronics
- Purchasing of tools
- Cleaning of carpets
- House cleaning
- Maintenance contracts (eg. Furnace cleaning, snow removal, lawn care and pool cleaning)
- Financing costs
- Amount paid as part of the purchase of your new house, including "upgrades"
- Expenses to acquire goods that have been previously used or leased by you or an eligible family member (e.g., hot water tank)
- Expenses incurred to the rental and/or business part of an eligible dwelling
Keep all documentation such as agreements, invoices and receipts. Make sure that the information included is : the vendor/contractors name, address, Business number, description of goods and services, the date of the service, the location of the service, the invoice amount and proof of payment ( such as credit card slip, cancelled cheques, etc.) The claim can be split among eligible family members but the total amount claimed cannot exceed the maximum allowable. To access more information on this tax credit http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/hrtc/lgbl-xpns-eng.html Questions? Contact Deeth & Co. LLP, Chartered Accountants 905-333-1775 |
