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Home Renovation Tax Credit
July 1, 2025
It's July 1... are you sitting on the back deck
noticing the wood rot, considering that there's only
half a year left to qualify for this $1,350 federal tax
credit?
Spend over $1,000 and up to $10,000
to get the full credit and you have until February 1,
2026 to spend your money on legitimate expenditures paid
to legitimate renovators who are registered for the
GST/HST.
Double up on medical expenses and
home reno credits for qualifying renovations. Check out
S. 118.2(2)(l.2) or Regulation 5700 for renovations and
installations that might qualify.
Allocate
your expenditures between personal use property and home
office or rental suite - remember that only the personal
use portion qualifies for the HRTC
For more
information on this proposed legislation check out
/homeoffice.html and link to the CRA
FAQ
Play it safe, register for WCB, purchase
building permits, hire licenced plumbers, builders and
electricians. It will pay off, not only in safety,
saleability and insurability, but tax credits are in
your future.
Disclaimer:
Eileen Reppenhagen CGA does
not research or endorse any
product or service appearing in ads
posted on this site.
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do NOT rely on or use the
information on this website as a
basis for a course of action without
obtaining appropriate professional
advice
.
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