Have you always dreamed of renovating your basement or bathroom, or maybe building a garage or putting in a pool? Why not do it now and under the new Home Renovation Tax Credit save up to $1,350 on home improvements purchased before February 1, 2010.
The HRTC is based on eligible expenditures incurred for work performed, or goods acquired, after January 27, 2009, and before February 1, 2010. The HRTC can be claimed when filing your 2009 tax return. The HRTC can be claimed for renovations and alterations of an enduring nature and that are integral to the eligible dwelling (such as your home or cottage) or the land that forms part of the eligible dwelling.
The 15% non-refundable tax credit can be claimed on eligible expenditures of more than $1,000 but not more than $10,000. The maximum tax credit that can be claimed to reduce your federal income tax is $1,350. However, if the total of your non-refundable tax credits is more than your federal income tax, you have no federal income tax to pay, and you will not receive a refund for the HRTC.
An estimated 4.6 million Canadian families will benefit from the HRTC. Why not you?
For more call
1-877-959-1-CRA or log on to the following websites:
http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/hrtc/menu-eng.htmlhttp://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/hrtc/lgbl-xpns-eng.html http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/hrtc/nvlps-eng.html 
