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Mississauga, ON: An innovative initiative
introduced as part of the federal government’s Economic Action
Plan, the Home Renovation Tax Credit provides a 15%
non-refundable tax credit for eligible home renovation
expenditures for work performed or goods acquired after January
27, 2009 and before February 1, 2010.
Canadians who invest in home renovations this year are eligible
to save up to $1,350. This new tax credit will increase the
demand for labour, building materials and other goods. The
credit, together with other tax incentives in our Economic
Action Plan (such as the First-time Home Buyers’ Tax Credit and
Home Buyers’ Plan withdrawal limits), will provide about $20
billion in new tax relief over five years for Canadian
individuals and businesses.
"The HRTC is a well timed and much needed stimulus that
Mississauga families can take advantage of right now," said
local Member of Parliament Bob Dechert. "The
Home Renovation Tax Credit is set to expire on January
31, 2010 which is why I am encouraging residents of
Mississauga and Peel Region to take advantage of this temporary
opportunity to save on their taxes while reinvesting in local
jobs", said Mr. Dechert.
The HRTC is expected to benefit close to 4.6 million Canadian
families. Mississauga and Peel Region residents can take
advantage of the credit when filing their income tax returns for
2009 by keeping all expenditure receipts.
For more information, please call MP Bob Dechert’s office at
905-897-1952 or email
decheb@parl.gc.ca.
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