Josh Hamilton
CENTURY 21 BAMBER REALTY LTD.
1612 - 17 Avenue S.W., Calgary, Alberta
P: 403-245-0773
F: 403-229-0239
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CENTURY 21 BAMBER REALTY LTD.
1612 - 17 Avenue S.W., Calgary, Alberta
P: 403-245-0773
F: 403-229-0239
Monday, February 1, 2010 - Home renovation tax credit exipres
Some big-box home renovation stores stayed open later than usual Sunday night to accommodate Canadians hoping to take advantage of the federal Home Renovation Tax Credit.
Consumers had until midnight to buy eligible supplies to claim the tax break before the program ended.
The Canada Revenue Agency said building materials that arrived at homes before the deadline would qualify for the credit. Those materials don't have to be installed before the deadline — just purchased.
Homeowners were reminded that only work completed before the deadline could be claimed on a property owner's 2009 income tax return.
The 15 per cent tax credit applied to expenditures of between $1,000 and $10,000, with a maximum credit of $1,350.
The program covered homes and cottages inhabited by the person making the claim at some time during the past year. It also applied to improvements to common areas in condominium buildings.
The credit was introduced last January to help stimulate the economy during the recession.
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