Do you want to take advantage of the $1,350 home renovation tax credit? - Then you will need to get your renovation done before February 1, 2010!

Are you thinking of selling your home soon?
The right improvements will boost the value of your home. So before you choose a renovation project - consider what the impact will be on the appraised value of your home. The Appraisal Institute of Canada can show you which renovation projects can maximize the value of your home – and which ones just don’t pay, financially. 

Or did you just buy a new home and it could need some upgrades?
Maybe it’s time for a new roof, new flooring, a recreation room in the basement… Now is the time to get it done!

If your renovation project includes some energy-saving home improvements, you may also be able to tap into grant money under the ecoENERGY retrofit and other government and local programs. You may therefore be able to benefit from both of these incentive programs for one renovation project. 

For renovations done between January 28, 2009 and February 1, 2010, you’re eligible to claim a 15% credit against your renovation expenses after the first $1,000. The maximum tax credit is $1,350, which represents $9,000 worth of renovations, and comes directly off your taxes owing. A wide range of renovation expenses qualifies for the credit. You can find a list of eligible expenses on the Canada Revenue Agency web site.