Our federal government has introduced a 15% tax credit for work performed or goods acquired, after January 27th, 2009 to February 1st, 2010, on a home, cottage or land.  The expenditure must be over $1000 but not more than $10,000, with up to $1350 in tax relief.

Allowable renovations include flooring, renovations, furnace or water heater, interior or exterior painting, resurfacing driveway, laying sod.  Appliances, furniture or accessories are not allowed.

What a great opportunity to renovate your home or cottage and get money back in the process. And together with refunds for updating windows, furnace and toliets, to make our homes energy efficient, these government grants and credits, are super ways to make our home renovation dollars go even further.

For more information, go to http://www.cra.gc.ca/

http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html#q5