Home renovation tax credit made official

The home renovation tax credit finally receives Royal Assent. Taxpayers rejoice.



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Bill C-51, the piece of legislation that talks about the home renovation tax credit, received Royal Assent on December 16. The credit, according to the Canada Revenue Agency, “applies to eligible expenses of more than $1,000, but not more than $10,000, resulting in a maximum non-refundable tax credit of $1,350 [($10,000 − $1,000) × 15%].” Great news for those who’ve upgraded their home this year.

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