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Residential Renovations
Renovation Tax Credit
If you meet certain eligibility requirements, you may be entitled to a refundable tax credit for the 2009 taxation year for expenses incurred under a residential renovation agreement entered into in 2009 for home improvements or renovations. The tax credit is equal to 20% of the eligible expenses in excess of $7,500. The maximum amount of eligible expenses is $20,000 for a maximum credit of $2,500. Calculator To obtain an estimate of the tax credit for home improvement and renovation that you could be entitled to for the 2009 taxation year, use the calculator available on the website of the Ministère des finances. Eligibility requirements To be eligible for the refundable tax credit for home improvement and renovation, you must: * Own an eligible residential unit located in Québec * Have the qualifying work for improvement or renovation carried out at your principal place of residence * A qualified contractor must be hired to carry out the work under the terms of an agreement entered into after December 31, 2008 and before January 1, 2010. * The expenses incurred to carry out the work must be paid no later than June 30, 2010. Eligible residential units An eligible residential unit is a residence built before 2009. The individual who incurs the home improvement or renovation expenses must be the owner (or co-owner) at the time the expenses are incurred. The residential unit must not only be the owner’s principal place of residence, but also: * an individual house * a manufactured home or a mobile home permanently installed * a unit in a building held in divided co-ownership * an apartment in a building held in undivided co-ownership or held by a sole owner Qualifying work Qualifying work that gives entitlement to the refundable tax credit for home improvement and renovation consists of: * the renovation, modification, improvement, conversion or expansion of an individual’s eligible residential unit, including the addition of structures adjoining or incidental to the unit * the work needed to restore a lot to its condition before the work described above was carried out Examples of qualifying work Division of rooms (knocking down walls or addition of partitions) Finishing of a basement, attic or garage Installation of a fireplace, a heat pump or an air conditioning system Installation of an alarm system or home automation system Insulation (including for a garage) Replacement of the plumbing, electrical system, heating system, air exchange system Replacement of the roofing, rainwater gutters and chimney Replacement of doors and windows Replacement of sewage treatment systems (septic tanks and septic field) Renovation of a kitchen, bathroom, washroom Expansion of a house built before 2009 Construction work on structures adjoining or incidental to a house built before 2009 Examples of non-qualifying work * Landscaping, other than to restore the lot to its condition prior to the recognized work * Construction of outdoor play equipment o * Interior decoration (decorator’s service) * Erecting or repairing a fence, low wall, etc. * Drilling a well, installation of a septic tank and septic field * Installation of household appliances * Installation of a swimming pool, sauna, hot tub, etc. * Refurbishment of access points (footpaths, driveway, etc.), unless made necessary as a result of the recognized work * Work aimed exclusively at repairs (repairing a leak, a door, etc.) or maintenance (application of paint to walls solely to spruce up the appearance) Qualified contractor The contractor must, at the time the agreement is entered into between the owner and the contractor, be a person or partnership with an establishment in Québec. Must not be the owner or co-owner of the eligible residential unit, or the spouse of one of the owners of the eligible residential unit at the time the home improvement or renovation work is carried out hold an appropriate licence issued by the Régie du bâtiment du Québec. Note that an individual who carries out the improvements or renovations on his or her own principal place of residence may not claim this tax credit. Claiming the credit You may claim the refundable tax credit for home improvement and renovation on your 2009 income tax return if you are resident in Québec on December 31, 2009. You must send with your return a form indicating all of the information related to the work carried out, such as: * a description of the work * the cost of the work * the registration number assigned under the Act respecting the Québec sales tax (QST) to the person who carried out the work * the licence number issued by the Régie du bâtiment du Québec to the contractor carrying out the work (if applicable) It is not necessary to provide your receipts or supporting documents when you file your income tax return. However, you must keep these documents for six years following the year to which they apply as Revenu Québec could audit you regarding this credit. Documents IN-179-V Tax Credit for Home Improvement and Renovation Important Note These texts on the said programs from Canada or Quebec are provided for information purpose only; you must consult the official Canada http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/hrtc/lgblty-prd-eng.html and Quebec http://www.revenu.gouv.qc.ca/eng/particulier/impots/impot/credit_remb/renovation/index.asp Internet sites and documentation to make sure you qualify. We decline all responsibility in regard to any error or omissions, the readers are responsible to check this information directly with the proper government agencies.
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