![HRTC Home Renovation Income Tax Credit]](HRTC-569x112.jpg)
Claiming the HRTC Tax credit
A new line and schedule will be included in your
personal income tax return to allow you to calculate and claim the HRTC.
Do not include your receipts and/or documents supporting your claim. Keep them
in case asked to see them (or you are audited).
Acceptable supporting documentation
Documentation, such as 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; and
proof of payment.
Receipts or invoices must indicate paid or be accompanied by other proof of
payment, such as a credit card slip or cancelled cheque.
Other government tax credits, grants, and incentives
The HRTC is not reduced by other government tax credits, grants, or incentives
that you may be entitled to.
Medical expense tax credit (METC)
Where an eligible expense qualifies for the METC, you can claim both the METC
and the HRTC for that expenditure.
ecoEnergy Retrofit - Homes grant
The ecoEnergy Retrofit - Homes grant applies to host of measures that reduce
energy consumption and provide for a cleaner environment. Home and property
owners could be eligible for federal grants of up to $5,000 to offset the cost
of making energy efficiency improvements to their home or property. Most
provinces and territories have complementary programs that offer additional
financial assistance (Nova Scotia will match to a maximum of $1500) based on the
results of the ecoEnergy Retrofit evaluation. For more information,
click here to read more about our
Energrade program and how we can help you access the ecoEnergy
program.
Source:
www.cra-arc.gc.ca
Disclaimer - the above is provided in good faith
and is accurate as of July 15, 2009.
Please check with the above noted website for any changes or updates. You are
responsible for ensuring you meet Canadian tax laws.
