You can visit the CBC webpage - Here (http://www.cbc.ca/consumer/story/2009/01/29/f-homereno.html) for information on the upcoming 2009 budget.
QuoteThe variety of expenditures that qualify for the tax credit is wide. Among them:
Renovating your kitchen, bathroom or basement.
Painting your house.
Installing new carpeting or flooring.
Replacing your heating/air conditioning system.
Upgrading the insulation in your home.Resurfacing your driveway or replacing your lawn with new sod.
QuoteThe Home Renovation Tax Credit can be coupled with other government programs that put money back into your pocket when you renovate your home. For instance, making your home more energy-efficient can qualify you for grants of up to $5,000 under the ecoENERGY Retrofit Program. You will still be able to claim the Home Renovation Tax Credit. The same applies for eligible expenditures that are claimed under the Medical Expense Tax Credit.
Additional information on the Home Renovation Tax Credit will soon be available on Canada Revenue Agency's website at (www.cra-arc.gc.ca).
Visit is the FAQ page - Here (http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html)
Quote3. What is the eligibility period?
The credit will be based on eligible expenditures for work performed or goods acquired after January 27, 2009, and before February 1, 2010. Expenditures incurred pursuant to an agreement that was entered into before January 28, 2009, will not be eligible for the credit.
The work is already pouring in peps are changing heating equipment that does not even need it.
It's going to be a good year.