Home reno tax credits

[danny zubot]

Is anyone maxed out for thier home renovation tax credit? Just curious, because there seems to be a lot of DIY'ers here. I racked up about $4600.00 on renos this year. How about everyone else?

Danny

[SeaHorse_Fanatic]

I'm POed because I did most of my major renos in the 2 years before the tax credit was set in place. Bathroom, tiling, deck, doubleglazed windows, kitchen sink, etc. etc.

So, nope, not getting a dime from this program.

[muck]

Have to add up all my receipts yet but probably close to $5000.

[Planeguy]

More than maxed out! I haven't totalled yet but roughly $16,000. We were only going to replace the fence this year, but with the credit available, we decided to max out and do some of the stuff we were planning for the next 2-3 years.

Upgraded electrical panel ,finally central air , new stamped concrete sidewalk, new fibreglass front door (very fan$$$y), and anything else we needed, we got from RONA. (they had their own renovation plan. Get an extra 10% back in giftcards)

[Funky_Fish14]

My parents and I just moved in to a new house and developing the basement goes down as tax credit. Father said they it maxed awhile ago lol.

[kien]

between the new roof and painting the entire house (exterior), ya, we used up all of the credits :biggrin:

[toxic111]

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

[Reefer Rob]

Likely around triple the amount. Our kitchen cabinets alone were over the max amount. *sigh* What a year! I'm never doing that again!

[fkshiu]

Maxed out and then some - ahh, the joys of owning an old house.

[ILIKECOUGARS]

Replace furnace and a/c well over 10,000, plus got back 1390.00 in rebates.

[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. :sad:

[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:twised:. 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

[danny zubot]

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!


What did the condo association do with the money? If they did some renos then maybe. I'd still want to check in with H&R Block or similar tax people.