Successful Completion of the HRTC: Why you Should Still Renovate your Home!
Monday, February 1st, 2010February 1st, 2010 marks the end of the Home Renovation Tax Credit (HRTC). The program had an extremely successful run and provided those individuals with a one-year temporary 15% income tax credit up to $1,350 on eligible home renovation expenditures.
So you may be asking yourself, now that the HRTC is over what incentives do I have to renovate my home? For those of you who are interested in having upgrades done, their still is hope. The Federal ecoENERGY retrofit grants are available and you can save your money by undertaking renovations before the Harmonized Sales Tax (HST) takes effect!
Under the ecoENERGY Retrofit program, homeowners can qualify for 25% more in federal grants by improving the energy efficiency of their homes, and reducing their home’s impact on the environment. The maximum grant you can receive for a single family home is $5,000.
The HST is fast approaching with a scheduled date of July 1st, 2010. This means that starting July the BC Government will be combining GST and PST into one harmonized tax and your home upgrades will cost you 7% more for the PST that was not charged previously.
For more details check out our Offers and Incentives page, visit our showrooms or call 604.697.5700 for any questions you may have related to the HRTC, the HST or any other home upgrade questions you may have.