Good News for Barrie Home Owners! New Home Renovation Tax Credit
A new tax credit of 15% can be claimed on any renovation expenses over $1,000 and under $10,000. The maximum amount that you can get back is $1,350. The Home Renovation Tax Credit expires on February 1, 2010.
The following renovations qualify for a tax credit:
- Kitchens, bathrooms and basements
- Floors and the roof
- Heating and air conditioning
- Insulation
- Paint
- Resurfacing the driveway or replacing your lawn with new sod.
- Expenses such as labour and building permits qualify too.
Remember that renovations can be a good investment; the more you improve your home, the better your chances to sell your home faster and for a better selling price tomorrow.