Conservative government's new Home Renovation Tax credit takes effect



    Minister Toews visits home renovation site and meets homeowners who will
    benefit under tax credit plan

    PORTAGE LA PRAIRIE, MB, Jan. 30 /CNW Telbec/ - Effective January 27, any
Canadian who spends money on home renovations will be eligible to receive up
to $1,350 in tax relief, thanks to the new Home Renovation Tax Credit proposed
in the Harper Government's Economic Action Plan.
    "For the next year, any Canadian who spends money on home renovations
will be eligible to receive up to $1,350 in tax relief, thanks to this
proposed tax credit.
    By providing an incentive for Canadians to invest in their homes, we are
also encouraging them to invest in local jobs," said Minister Toews.
    To highlight the kind of projects that will be eligible under this plan,
the Minister visited a home undergoing renovations in Portage La Prairie,
meeting with the homeowners to discuss how this tax credit will help them with
their renovations projects.
    The Home Renovation Tax Credit will provide a one-year, temporary 15%
income tax credit on eligible home renovation expenditures for work performed,
or goods acquired, between January 27, 2009 and February 1, 2010. The credit
may be claimed on eligible expenditures exceeding $1,000 but not more than
$10,000.
    This tax credit is one of several initiatives designed to help homeowners
and homebuyers contained within the Government's Economic Action Plan. Before
homeowners, homebuyers, and local construction and building supply workers can
benefit from these new initiatives, Parliament must pass the 2009-2010 Federal
Budget.




For further information:

For further information: Office of the President of the Treasury Board:
Christine Csversko, Director of Communications, (613) 957-2666


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