Canadians can earn tax credits for window, door replacement
Printed from: http://pressroom.pella.com//fast_facts/136/
To spur economic activity in home remodeling and manufacturing industries, the Canadian government approved the Home Renovation Tax Credit (HRTC) for eligible property owners. Canadian homeowners can take advantage of this tax credit for a variety of renovations, including energy-efficient window and door installation.
- Homeowners can receive a 15 percent tax credit of up to $1,350 for renovations that exceed $1,000 ─ up to a maximum of $10,000.
- Renovations must be completed between Jan. 27, 2009, and Jan. 31, 2010.
- Multiple upgrades including kitchen and bath renovations, home additions, curb appeal projects like adding new sod, and deck or fence installation can qualify.
- The Canadian government requires selected contractors to be registered with the Goods & Services Tax association. http://www.cra-arc.gc.ca/tx/bsnss/sm/gsthst-tpstvh/menu-eng.html
Savvy homeowners in Canada will couple the new HRTC with the ecoENERGY Retrofit Program to offset the costs of installing ENERGY STAR® windows or doors. This program encourages Canadian homeowners to reduce their energy usage by upgrading major home appliances or heating systems with ENERGY STAR-qualified products.
- Canadian home and property owners may qualify for ecoENERGY grants of up to $5,000 and still claim renovations under the HRTC.
- When properly selected and installed, windows and doors can add to the appeal and comfort of a home, and reduce home energy costs by as much as 7 to 12 percent, according to ENERGY STAR Canada.
- Look for window and door products with low U-values, which measure the ability to resist the transfer of heat. The lower the U-value, the better, and Pella has some of the lowest in the industry.
- Homeowners in Canada can visit http://oee.nrcan.gc.ca/residential/personal/windows-doors/buying.cfm?attr=4 to learn how to select eligible ENERGY STAR-qualified windows and doors for their climate zone.
Resources:
- Canada Revenue AgencyHome Renovation Tax Credit http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html
- ecoENERGY Retrofit Program http://www.oee.nrcan.gc.ca/residential/personal/retrofit-homes/retrofit-qualify-grant.cfm?attr=4#eligible
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