The Ontario Government has suspended the Home Energy Savings Program and the Federal government has stopped funding the Ecoenergy program. Home inspection companies are no longer booking energy audits. However, if you had an initial inspection and have not had your exit inspection you may still qualify for ecoEnergy grants, but pay close attention to the Federal program disclaimers. If the program still has funds available and the work and the final inspection are completed prior to March 31, 2011 you will still get the rebates.
More than 80 percent of Canadian homeowners admit they know little to nothing about the new Home Renovation Tax Credit that could result in tax savings
up to a maximum of $1,350. The poll by Angus Reid Strategies also showed 98 percent of homeowners are unaware of the February 1, 2010 deadline for claiming their renovations.
This Canadian public opinion poll was conducted online by Angus Reid Strategies, from June 5 to June 11, 2009, and surveyed 1,398 randomly selected Canadian homeowners. The margin of error for the total sample is +/-2.6%, 19 times out of 20.
The survey showed:
– Only 20 per cent of Canadian homeowners understood that condo owners can apply their share of the cost of a renovation of the common areas in their building.
– Fifty-six per cent of respondents didn’t realize replacing the windows in the family cottage would be eligible.
There are all types of projects that qualify but Canadians seem to be confused about what they can actually claim. If you wait until you file your tax return to ask questions, it will be too late.
There are guidelines about what qualifies and what doesn’t under the credit so homeowners need to understand that replacing a couple of boards on a deck does not qualify but replacing or renovating the deck does. Cottage renovations are okay, but you can only claim up to $10,000 per family, not per property. Ultimately, if you do have a qualifying project but don’t claim it, you are giving the government your money.
Tim Cestnick is managing director at WaterStreet Family Wealth Counsel and author of 101 Tax Secrets for Canadians and writes columns for the Globe and Mail on tax saving solutions. I recommend reading his column on June 4 2009 for more insight on how to make the HRTC credit work for you.
Special attention should be paid to those renovations that also qualify for ecoEnergy grants such as windows and doors!
The HRTC only applies to work done in 2009!
If you could have windows that:
- DELIVER ecoEnergy grant money
- QUALIFY for the $1350 tax credt (HRTC)
- REDUCE heating and air-conditioning costs
- ELIMINATE exterior painting
- CLEAN easily and entirely from inside the house
- ENHANCE your home’s appearance
- INCREASE your home’s value
- OPERATE with ease
Then why wait any longer? Start enjoying the benefits of high quality replacement windows and doors now!
The C.D. Howe Institute of Canada says “the biggest impact, by far, is the energy retrofit of homes” when it comes to GREEN energy savings.
Here are 10 great reasons to deal with David Snell Building Services:
- Members of the Better Business Bureau
- Members of S.A.W.D.A.C. (Siding & Window Dealers Association of Canada)
- Fully Licensed & Insured
- Best Product Warranties
- Highest Quality Workmanship
- We do the paper for ecoEnergy Grants
- “EnergyStar” Certified
- “Window Wise” Certified
- Located in Mississauga and locally owned and operated
- Polite, Professional, Curteous
- Financing available including 6 month no payment option!
We promise everthing you have the reasonable right to expect from us…AND THEN SOME!