Homeowners renovation TAX credit...Time to Rejoice!!
RENOVATION TAX CREDIT
- 15% off the cost of home renovations via a tax refund.
- This government coupon expires on February 1st, 2010.
- Taxpayers claim the HRTC when they file their 2009 tax return.
- Residential property owners need to spend between $1,000 and $10,000 with the maximum tax credit available to them being $1,350.
ecoENERGY RETROFIT GRANT
- Residential property owners receive a credit of $5,000 per property to a maximum of $500,000 over the life of the program.
- It is estimated that the average grant will be $1,000 and will yield an average of 25% reduction in energy use and costs.
- In order to qualify for the grant, an Energy Auditor needs to evaluate your home and assess the amount of energy your home is emitting. They will make the recommendations with respects to what upgrades you could make to lower your energy bill.
ADDITIONAL BENEFITS
- The Ontario government is willing to help you with the cost of the audit; up to 50% or $150.
- If your renovations include some appliances, Enbridge will reimburse you $15 for a programmable thermostat, $100 for and Energy Star qualified natural gas furnace and $300 for an Energy Star qualified natural gas tank less water heater.
- The Ontario Power Authority will pitch in up to $550 towards more efficient heating and/or cooling units.
- By installing something which creates renewable energy for example electricity produced by wind solar or renewable biofuels, just to name a few, you can get paid for energy you produce for the next 20 years; up to 42 cents per kilowatt hour.
- The Ontario Power Authority is willing to refund the sales tax (RST) you paid for any of these systems or for an upgrade or expansion of a system you already have in place.
Call JoAnn VISAretis to discuss your options...