Finally... a renovation that saves you money!

The 2009 Canadian Home Renovation Tax Credit

Now is the time to renovate!

Not planning on moving this year? Upgrade your home with the Canadian Home Renovation Tax Credit. The credit allows for a 15% credit on your home renovation (between $1,000 and $10,000) – this can be used towards the purchase and installation of a Regency Fireplace Product. Projects must be completed between January 27, 2009 and February 1, 2010.

What do I need to do to receive my credit?

The credit will be available for the 2009 tax year with acceptable documentation. Acceptable documentation is considered to be agreements, invoices, and receipts, must clearly identify the type and quantity of goods purchased or services provided, including, but not limited to, the following information:

• Information that clearly identifies the vendor/contractor, their business address and, if applicable, the GST/HST registration number
• A description of the goods and the date when the goods were purchased
• The date when the goods were delivered (keep your delivery slip as proof) and/or when the work or services were performed
• A description of the work performed including the address where the work was performed;
• The amount of the invoice
• Proof of payment. Receipts or invoices must indicate paid in full or be accompanied by other proof of payment, such as a credit card slip or cancelled check.

Where can I learn more?

For full details on the program, please visit: http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html. Check with your financial advisor for credit eligibility on your 2009 taxes.