Renovation Tax Credit Window Coming to an End

Ottawa's home renovation tax credit for a maximum of $1,350  is scheduled to end February 1, 2010.

Homeowners can spend up to $10,000 on qualifying items or work to earn the maximum renovation credit until that time.

Qualifying expenditures include repairs, alterations and preventative maintenance for a home owned by the applicant.  Labour, materials and equipment rental costs are all covered under the tax credit.

Homeowners may want to take advantage of this tax credit ahead of the expected increase in costs which may occur in July, 2010, when Ontario adopts the harmonized sales tax.