Thursday, January 21, 2010

The 2009 Home Renovaton Tax Credit and Condominiums

The 2009 Tax forms are out and instructions on claiming the credit for the new Home Renovation Tax Credit can be found on page 38 of the 2009 General Income Tax and Benefit Guide. To begin, you list your  expenses on Schedule 12. For condominium owners, this may include amounts spent by the Corporation, in addition to your personal expenditures.

One of the qualifying conditions for condominium owners is if "the condominium has notified you in writing of your share of the expenses". This places the onus on the Corporation to calculate and report to the owners their share of eligible expenses...

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3 comments:

  1. [...] It’s tax season again, and property manager Tracey McLellan offers some suggestions for reporting and claiming the HRTC [...]

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  2. Replies
    1. Hello Aileen, this tax credit was a one time offer only and is no longer available for homeowners. Hopefully it will be replace with other credits!

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