Friday, January 15, 2010

Reminder: Don’t Miss The HRTC Deadline!

a.k.a. Must All Good Things Come To An End?

As most of you know, the Government generously offered a temporary incentive for homeowners to undertake new home renovations last year.

Since January-end of 2009, Canadians have been benefitting from this Home Renovation Tax Credit (HRTC) for eligible expenditures on work performed or goods acquired.  With savings of up to $1,350 on new home reno projects, it's almost a crime not to redo your backsplash with that gorgeous glass subway tile you've been eyeing all year!

If you think you're ineligible for this credit just because your home happens to sit 20 levels above ground, you're (fortunately) mistaken!  In fact, condo owners may have an additional opportunity to cash in on the credit for renovations made to common areas outside their individual units, as detailed in this great article from

Sadly - as with all good things - the HRTC initiative must come to an end. There isn’t much time left to take advantage of this great opportunity, so hurry up and revamp that kitchen or bath before February 1!

For more information on the HRTC and eligible expenditures, click here.