Is it time for Home Renovations?

Some examples of eligible expenditures include:

• Renovating a kitchen, bathroom or basement

• New carpet or hardwood floors

• Building an addition, garage, deck, garden/storage shed or fence

• Re-shingling a roof

• A new furnace, woodstove, boiler, fireplace, water softener or water heater

• A new driveway or resurfacing a driveway

• Painting of interior or exterior of a house

• Window coverings directly attached to the window frame and whose removal would alter the nature of the dwelling

• Laying new sod

• Swimming Pools (Permanent – in ground and above ground)

• Fixtures – lights, fans, etc.

• Associated costs such as permits, professional services, equipment rentals and incidental expenses

This limited time credit applies to contracted work and/or purchased goods valued at more than $1,000. If you spend $10,000 or more, you qualify for the maximum credit of $1,350. The cost of routine repairs and maintenance are not considered eligible expenses. Full details about the Home Renovation Tax Credit are available at: www.cra.gc.ca.

Important Insurance Coverage Reminder:

If you are considering home renovations or additions in excess of $5,000, please contact us to avoid a potential gap in your insurance coverage.

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