I got lot of info on new Home Renovation Tax Credit in CRA website:

http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html#q1

I have couple of questions and would appreciate your feedback"

Q1- Per CRA The credit will be based on eligible expenditures for work performed or goods acquired after January 27, 2009, and before February 1, 2010.Is it just one time credit or can be done eacH tax year?

Q2: Per CRA maximum credit IS $1,350 ($9,000 x 15%) to eligible expenditures of more than $1,000, but not more than $10,000.Does that mean say I my expenditure is $2000 should I still receive the maximum tax credit i.e $1350?

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ani

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Originally posted by ani70

I got lot of info on new Home Renovation Tax Credit in CRA website:

http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html#q1

I have couple of questions and would appreciate your feedback"

Q1- Per CRA The credit will be based on eligible expenditures for work performed or goods acquired after January 27, 2009, and before February 1, 2010.Is it just one time credit or can be done eacH tax year?

Q2: Per CRA maximum credit IS $1,350 ($9,000 x 15%) to eligible expenditures of more than $1,000, but not more than $10,000.Does that mean say I my expenditure is $2000 should I still receive the maximum tax credit i.e $1350?

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