Tax Credit and Home Renovation

If you are renovating your home this year, you will find this information quite useful. The Federal and Provincial government have recently implemented two Home Renovation Tax Credits.
I found out about it though CIGM TV,  where Pierre Langlois, Manager of Government Affairs at the Québec Federation of Real Estate Boards, explains the details of this new program in a video.

What I could gather from the video, here are the amounts covered by each government:

Federal: 15% of expenses from $1,000 to $10,000. Maximum deduction of $1350

Provincial: 20% of expenses from $7,500 to $20,000. Maximum deduction of $2500

Find out how much you can be entitled to, by using the online calculator at Finances Quebec website.

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