Home reno tax credits

[danny zubot]

We are around $5000-$600o I think, deck fence, basement finsh... only got material costs since I did everything myself

I did everything myself too, so no labour charges to write off for me either.

I wonder if the gov. will do this again? I still have lots to do around the house. Like hardwood floors, new windows, exterior paint, baseboards and window trim through out the entire house. Oh ya, and new kitchen cabinets.

[targaboy78]

Oh boy! Don't get me started.

Wifey mentioned that it might be nice to knock out the wall between the kitchen/living room for an open-concept feel.

Sounded easy enough, so I agreed.

The wall is now gone, which triggered the following;

- Since there is carpet in LR and lino in kitchen, we need new floors. New hardwood for the entire main floor.
- No wall = no place for the couch, unless we put it where the TV currently is.
- New flatscreen for above the fireplace (HD Box too).
- Must update the 70's fireplace.
- New built-in cabinets on either side of new fireplace.
- Continue hardwood down the stairs so we must update the front landing.
- Front landing will be new, should replace the entry door.
- Front entry door is new, we may as well replace the kitchen door as well.
- Scrape popcorn from ceiling.
- Replace florescent lighting with task lighting in kitchen.
- Big island in middle of kitchen but cabinetry won't match.
- New kitchen cabinets with granite counter tops but now everything is new - except the appliances.
- You guessed it - new appliances.

I am into this for about $16,000 so far but about $25 - $35K to go.

Pray for me.

[toxic111]

well if we want to go in what the totals are.. over $350, 000...most of my 'renos' were to a new house.... this year is finish the rest of the basement (bathroom & 2 bedrooms to finish) landscaping & the rest of the fence to go.

If we are going to be here for another couple years, change to hardwoon floors, quartz counter tops & redo the ensuite show to custom tiled/glass...

LOL that would be good for another $30,000

[cuz]

what is the maximum amount?

[christyf5]

we're in for $10K+ new kitchen incl a sweet new fridge and dishwasher

I think just over 9K is the max

[Funky_Fish14]

I just heard $10 000 is the max you can claim, to which you will receive up to a maximum of $1350 credit to your taxes.

[outacontrol]

yes $10,000 is the max but the first $1000 is not worth any credit
So (10,000 - 1000 = 9000) then (9000 x 15% = 1350 in credits)
has anybody filled for it yet?

[Ian]

Lets see new flooring in 3 bedrooms and hallways, new trim for entire area as well new counter tops in kitchen, two ren'd bathrooms, rebuilt deck, oh and A FOR SALE SIGN ON THE FRONT LAWN in 2 weeks. glutton for punishment i believe is the title I deserve .

[balistidae]

We had to pay a $17000 "special assesment" on our townhouse last year. Does anybody know if I can claim this for the home reno tax credit? Thanks!

[blacknife]

should have maxed them out but did not have the money too..


stuipid being laid off all summer