Finally! The government has found a way to save our Ontario tradespeople by offering a 15% tax credit to homeowners that have hard work performed or have bought goods for their home renovations between January 27, 2009-February 1, 2010.  This tax credit can be used on your 2009 tax return so save your receipts!  The tax credit is good for expenses over $1,000 but is maxed out at $10,000.  You can benefit from this tax credit on expenses such as; renovating a kitchen, bathroom or basement - new carpet or hardwood floors - building an addition, deck, fence or retaining wall - a new furnace or water heater - painting the interior or exterior of a home - resurfacing a driveway - or laying new sod.  You will not be able to benefit from this tax credit on expenses such as; new furniture or appliances - tools - carpet cleaning - maintenance contracts (ie: snow removal, pool cleaning, furnace cleaning, lawn care).  The government is initiating this HRTC (Home Renovation Tax Credit) with the hopes that it will provide an immediate incentive for Canadians to undertake new renovations or accelerate planned projects.  

Home renovations are good for several reasons.  It is the smartest long term form of investing in the largest purchase that you will probably make in your lifetime - your home!  Renovations increase the demand for labour, building materials and other goods which assist in our economy and the saving of our hardworking tradespeople which is diminishing yearly.

There is no better time to make improvements to your home and take advantage of the HRTC.  Add some value to your home and your lifestyle!  Unsure how to spend that renovation money in order to "cash in" on the governments "generosity"?  Give me a call directly at (416) 357-9313 and I will be pleased to visit you at your home and show you where your money would be best used to yield you the largest return on your investment.  Your home could be worth much more than you think!