Over 44 Years Of Caring And Growing Text Box: Home Renovation Tax Credit

     Landscape renovations have always been smart investments for the long term value of your home, and the recently announced federal budget features a very useful tax credit to reduce your costs for various landscape improvements. This may be the first time in history that landscaping, sod, decks and retaining walls are mentioned in a federal budget. Here are a few key points explaining how the HRTC may apply to you and your landscaping renovation ideas.

     The HRTC will provide homeowners a 15% tax credit for eligible home and landscape renovation expenses exceeding $1000, but not exceeding $10,000 - with a maximum tax credit of $1350. Properties eligible for the HRTC include houses, cottages, and condominium units that are owned for personal use. The HRTC will only be available for such expenditures for work performed between January 27, 2009 and up to February 1, 2010, pursuant to agreements entered into after January 27, 2009. You can then claim the HRTC when filing your 2009 tax return. Be sure to save all invoices and receipts for any eligible home or landscape improvement projects they are working on.

     Eligible landscape renovations will include decks, fences, retaining walls, sodding driveways, patios, planting beds, water gardens, irrigation systems, landscape lighting, and any other major landscaping project. Unfortunately, regular maintenance contracts for lawn care, lawn cutting, snow plowing or irrigation system opening/closing expenses will NOT be eligible.

   For additional information on the Home Renovation Tax Credit and an example where  you can see eligible landscaping renovation benefits, please refer to the federal government website at www.budget.gc.ca .

How Does The Home Renovation Tax Credit Work?

What Types of Services Are Eligible?

How Can I Get More Information?

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