Ottawa renovation tax credit window set to close
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10/11/2009 8:00:00 AM
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Robert Carry
Homeowners hoping to avail of Ottawa's $1,350 home renovation tax credit are being warned that deadline day is approaching on the program.
Under the terms of the initiative set to be halted on 1 February 2010, homeowners can spend up to $10,000 on qualifying items or work to earn the maximum renovation credit.
Qualifying expenditures include repairs, alterations and preventative maintenance for a home or apartment suite owned by the applicant. labour, materials and equipment rental costs are all covered under the tax credit system.
Ottawa homeowners are being urged to take advantage of the tax credit ahead of the expected increase in labour and home repair costs due in July 2010 when Ontario adopts the harmonised sales tax.