Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Principal Issues: Whether 2008 home renovation expenditures would qualify for the home renovation tax credit (HRTC)
Position: No.
Reasons: The HRTC applies to eligible home renovation expenditures for work performed or goods acquired between January 27, 2009 and February 1, 2010, pursuant to agreements concluded after January 27, 2009.
June 3, 2009
XXXXXXXXXX
Dear XXXXXXXXXX :
The office of the Right Honourable Stephen Harper, Prime Minister of Canada, forwarded to me a copy of your correspondence concerning the new home renovation tax credit (HRTC). Please accept my apology for this delayed response.
You are asking if the cost of your November 2008 home renovations would qualify for the HRTC. The legislation regarding the new HRTC, which was introduced in the federal budget tabled on January 27, 2009, has not yet been drafted. However, the Honourable James M. Flaherty, Minister of Finance, announced in Annex 5 of the budget document that the new HRTC will be a temporary 15% non-refundable tax credit available to individuals. The new HRTC will apply to eligible home renovation expenditures for work performed or goods acquired between January 27, 2009, and February 1, 2010, pursuant to agreements concluded after January 27, 2009. As a result, your November 2008 renovations do not qualify for the HRTC.
More information on the credit can be found in the Government of Canada pamphlet at www.actionplan.gc.ca/grfx/docs/HRTC_eng.pdf and on the Canada Revenue Agency Web site at www.cra.gc.ca/hrtc.
I trust that the information provided will be helpful.
Sincerely,
Jean-Pierre Blackburn, P.C., M.P.
William King
(905) 721-5205
2009-031178
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