Hiring a contractor means work has to be done by deadline
TORONTO, Jan. 2 /CNW/ -
- The Home Renovation Tax Credit (HRTC) is a non-refundable credit for
work performed on or good acquired for the renovation of owned,
personal dwellings. To qualify, a family must spend at least $1,000
on home renovations, up to a maximum of $10,000 and the renovation
must be of an "enduring nature" and "integral to the dwelling".
- All renovation expenses must be incurred after January 27, 2009 and
before February 1, 2010.
- If you are planning a do-it-yourself renovation, only supplies and
materials purchased on or before January 31, 2010 are eligible. You
cannot claim expenses after the deadline.
- If you are hiring a contractor, the work must be completed by
February 1, 2010 in order to qualify. Just signing a contract for
work before the deadline is not sufficient.
- If you paid a contractor but they left without finishing the work,
you cannot claim the unfinished expense. If the work is not
completed, the expense is not eligible for the HRTC.
A local H&R Block spokesperson is available to talk about more the Home Renovation Tax Credit deadline.
About H&R Block Canada
H&R Block Canada has been preparing taxes for more than 40 years and is Canada's leading tax preparation firm. Headquartered in Calgary, Alberta, the company serves Canadian taxpayers in more than 1,100 offices across the country. H&R Block Canada Inc. is a subsidiary of H&R Block, Inc., a diversified company with subsidiaries providing a wide range of financial products and services. Additional information about H&R Block Canada is available at 1-800-HRBLOCK or visit www.hrblock.ca for more tax tips.
SOURCE H&R Block Canada Inc.
For further information: For further information: Tina Quelch, Calador Communications, (416) 925-6034, firstname.lastname@example.org