Wednesday, January 28, 2009

Get up to $1350 to renovate your Okanagan Custom Home with the Home Renovation Tax Credit Tax Credit

Canadians and home owners in Kelowna, BC who want to sod their lawns or renovate their bathrooms will get a tax break worth up to $1,350 as a key plank of the government's effort to inspire spending.

For a certain sector of consumers, 2009 could become the year of the reno, following the announcement Tuesday of a Home Renovation Tax Credit Tax Credit that lets taxpayers claim 15% of their fixups until Feb. 1, 2010.
"The HRTC will provide a temporary incentive for Canadians to undertake new renovation projects or accelerate planned future projects," the budget documents said, "thus providing timely stimulus to the Canadian economy while boosting energy efficiency and the value of Canada's housing stock."
The government said the incentive is expected to provide about $3-billion in tax relief to some 4.6 million families.
The credit, which is available for homes and cottages effective immediately, is designed to boost construction, forestry and other industries.Taxpayers can claim renovations on their 2009 tax returns on costs over $1,000, but not exceeding $10,000.
To see full article click here
Joe Wackerbauer
Okanagan Custom Homes
250- 809-9519

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