With Home Depot Manager, Bryan Mottershead, in West Kelowna, British Columbia, July 13, 2009

July 13, 2009

 
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, announces the official launch of a new national advertising campaign for the Home Renovation Tax Credit (HRTC) on behalf of the Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food).
 
“The Home Renovation Tax Credit is one of the key incentives introduced by the Conservative Government as part of its Economic Action Plan to provide a timely stimulus to the Canadian economy,” said Minister Day. “We want to ensure that Canadian homeowners know about this credit and take full advantage of it. This is why we are launching this national advertising campaign.”
 
The advertising campaign includes advertising through television, select magazines, Internet, and digital screens. It is also complemented by a national partnership program, with point-of-sale HRTC displays in large national retail establishments where home renovation products are sold. By mid-August, these establishments and their affiliates should have HRTC information displays with envelopes that people will be able to use to keep their receipts and related documents to claim the credit.
 
The HRTC is a time-limited, non-refundable tax credit of up to $1,350 that can be claimed for eligible expenditures made for renovations and alterations of an enduring nature made to a dwelling eligible to be a principal residence which may include a house, condominium, cottage, and the land that forms part of it. Canadian homeowners who are thinking about renovating their kitchen, replacing their furnace or installing new windows or a new fence, for example, could really benefit from this credit.
 
“The government realizes that home renovations increase the long-term value of a home and create economic activity by increasing the demand for labour, building materials, and other goods,” said Minister Day. “The HRTC alone provides about $3 billion in tax relief and is part of the $62 billion in stimulus delivered through the Economic Action Plan. For an estimated 4.6 million Canadian families, this means that they will be able to put their tax dollars back into their homes.”
 
The HRTC can be claimed on the 2009 income tax and benefit return for eligible expenditures that total more than $1,000, and up to $10,000, which are made between January 28, 2009 and January 31, 2010. To claim the HRTC, Canadians should ensure they keep supporting documents such as receipts to support their claim.