Space Solutions and The Home Renovation Tax Credit
April 11, 2009
We’ve been getting asked a lot about how what we do relates to the federal government’s new Home Renovation Tax Credit. The short answer is that yes, nearly everything that we do does qualify for the tax credit. Since everything we do is custom designed to be installed in the space, our solutions meet the criteria of being “of an enduring nature and integral to the space”. So whether you are redoing your walk-in closet, a garage. a murphy bed, or even just a set of sliding doors, you should be able to claim the expense under this new initiative. Qualifying expenditures start at $1000, and you may claim against up to $10,000 of home improvements. Our receipts and supporting documents will contain the information required for your claim. For more information on the tax credit and how it applies to you, visit the government website on the matter at www.cra-arc.gc.ca
We’ve been getting asked a lot about how what we do relates to the federal government’s new Home Renovation Tax Credit. The short answer is that yes, nearly everything that we do does qualify for the tax credit. Since everything we do is custom designed to be installed in the space, our solutions meet the criteria of being “of an enduring nature and integral to the space”. So whether you are redoing your walk-in closet, a garage. a murphy bed, or even just a set of sliding doors, you should be able to claim the expense under this new initiative. Qualifying expenditures start at $1000, and you may claim against up to $10,000 of home improvements. Our receipts and supporting documents will contain the information required for your claim. For more information on the tax credit and how it applies to you, visit the government website on the matter at www.cra-arc.gc.ca