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Making Home Renovation Tax Credits Work for You

Home renovation projects have become quite common throughout the Canadian real estate market. Whether because people are staying home more now or they want to be more environmentally friendly, people are jumping on the renovation bandwagon. Whether indoors or out, there are many things you can do to revitalize your home. In an environment of historically low interest rates, and plenty of homeowners cashing in on their equity to fix up their humble abodes, more families are choosing to build up and build out, revitalizing their bedrooms, bathrooms and kitchens. Moreover, many homeowners are greening their properties and making their homes smarter. In other words, homeowners are putting their money to work. But did you know that there are tax credits that you can take advantage of and save some money on your renovation endeavours? Unfortunately, as more people engage in home renovations, many individuals are leaving money on the table, in the form of federal and provincial home renovation tax credits.

Can You Claim Renovations on Your Taxes in Canada?

Yes, you might get a portion of your money back from the government to help cover the costs associated with improvements made to your primary residence. But what home renovation tax credits are available?

Complete article: https://blog.remax.ca/making-home-renovation-tax-credits-work-for-you/​

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