New Home Benefits
You can get the homebuyers’ tax credit if you just purchased a house and have not owned a house in the past 4 years. On line 369 of your tax form, fill it out with the amount of $5,000, and you will receive a 15% credit.
Tax Load Reduction of $750
Getting your house an ecoENERGRY assessment by a certified energy advisor before doing any renovation is recommended. The total costs before and after the audits can be about $1,000. However, this can be reimbursed from the provincial rebates.
Rebates of up to $500
Depending on where you live, cash in on rebates may have:
Installation of ventilation fan- up to $50
Ductless heat pump -$800
Installation of a gas fireplace- $300
Improvement of insulation- up to $3,250
Replacement of each appliance- $50+
Draft-proofing your home- up to $500
Replacement of windows & doors- up to $500
Having more than three upgrades – $750
Savings of up to $7,000
A new tax credit that has a 15% rebate can be received for home renovations that make a house more accessible and safer for old and disabled people. Some of these are installing handrails and grab bars, widening doorways, building wheel-in or walk-n showers, and adjusting the heights of cabinets.