Time To Renovate – According To Canadian Federal Budget
This is a great year to tackle that major renovation project that you’ve been putting off for the past couple of years. Yesterday’s Federal Budget has made it easier and more affordable than ever to get on with getting that project done.
Starting yesterday ,Jan. 27, 2009, and going to
Feb. 1, 2010 is the time line to take advantage of this great program.
It looks like the tax credit can be used for many different types of projects around your home and yard. The Budget is giving a tax credit of 15% on projects over $1000 and up to $10,000. The maximum amount that any individual/couple can claim is $1350.
That is a pretty good motivation to get to work and tackle that list of yours starting this week.
What are some of projects that you can do that will qualify? Well, here are a few: renovating your bathroom, basement or kitchen; putting new flooring down; painting – inside or out; building the deck you always wanted; putting in a new driveway; landscaping your yard with new sod; or putting on that new addition.
Now, as we all know, it is pretty easy to spend $10,000 on a renovation.
This program won’t cover all the expenses for all of the projects that
you may want to do on your house but it will certainly help with one or two
of them.
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