HOME RENOVATION TAX CREDIT

• Applies to a principal residence of which the individual is the owner or co-owner
• The renovation work must take place in 2009 and must exclude normal routine repairs and the purchase of furniture, appliances, curtains and tools

Tax credits

                                                          Federal  Québec

 Applies to expenditures in excess of  $1,000  $7,500

 Tax credit rate                                       15%     20%

 Maximum tax credit                            $1,350   $2,500

 Expenditure for max tax credit         $10,000  $20,000