Home Renovation Tax Credit
Source: http://www.cra-arc.gc.ca/hrtc/
Deadline: February 1st, 2010
The new Home Renovation Tax Credit provides a one-year, temporary tax credit on new roofing and other eligible home renovation expenditures for BC residents. A credit worth up to $1,350 can be claimed. To qualify, work must be performed, or goods acquired between January 27, 2009 and February 1, 2010.
Do you qualify for Home Renovation Tax Credit?
The Home Renovation Tax Credit is a non-refundable tax credit for work performed or goods acquired in respect to any dwelling that you own and use personally, including your home or your cottage. The residence must be your principal residence at any time between January 27, 2009 and February 1, 2010.
What parts of your new roof qualify for a HRTC tax credit?
Expenditures exceeding $1,000 but no more than $10,000 and incurred during the renovation or alteration to an eligible dwelling’s roof qualifies for a Home Renovation Tax Credit.
A roof is of an enduring nature and integral to the dwelling and replacement
requires labour costs, professional services, building materials, fixtures,
rentals, and permits. All of these expenses are eligible and your tax credit
claim will be supported by documentation and receipts provided by DC Roofing
Inc.
How do I claim my new roof tax credit?
A new line will be incorporated in the 2009 personal income tax return. Simply
fill in the required information and submit your DC Roofing receipt to claim
the credit. It is that easy!
