The Home Renovation tax credit is a new temporary tax credit of up to $1,350 for homeowners who renovate. The credit will only be available for the 2009 tax year and applied to eligible expenditures of more than $1,000 but not more than $10,000, resulting in a maximum credit of $1,350 ($9,000 x 15%).
Visit the following site for additional information and a list of eligible expenditures:
http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html#q6
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