The Canadian government revealed on January 27th, 2009 a temporary Home Renovation Tax Credit. This renovation credit will apply to work done on houses, cottages and condominiums owned for personal use, and projects can range from finishing a basement to remodeling a kitchen, to painting, to laying new sod. This home renovation tax credit works as follows: Homeowners can get a 15% tax credit of up to ,350 for renovations that exceed ,000 up to a maximum of ,000 worth of work or materials. The renovations must take place and be completed between January 27, 2009 and January 31, 2010 to be eligible for this credit. Under this -billion program, you may choose to hire a contractor or to do the work yourself. However, contractors must be registered for the GST so you cannot hire friends or family members. The Canadian government estimates
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