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Home renovations are smart longterm investments continued from 14 The following examples how homeowners can benefit from the HRTC Sally and Ed are a couple who have recently purchased a house In response to the temporary HRTC they decide to replace their old windows and improve the insulation in their home in 2009 instead of waiting incurring 10000 in expenditures After taking into account the 1000 minimum threshold a 15percent credit will be available on 9000 in eligible expenditures providing tax relief of 1 William and Marie are a couple who are planning to purchase a more energyefficient furnace for their home and build a deck at their cottage sometime later To take full advantage of the temporary HRTC they decide to do both projects in 2009 rather than waiting They pay 5000 for the furnace and 3500 for the deck They also decide to have the area around the deck landscaped for bringing their total costs to 11000 5000 3500 2500 Marie claims a credit of 1350 on the maximum allowable amount of 9000 Karen and Heather are sisters who share ownership of a condominium unit They each incur 7500 in expenditures renovating the kitchen in the condo Karen and Heather each claim a 975 credit on eligible expenditures of 6500 7500 1000 The Economic Action Plan also includes Home Buyers Plan Withdrawal limit Provides firsttime home buyers with additional access to their RRSP savings to purchase or build a home Budget 2009 increases the Home Buyers Plan withdrawal limit to 25000 from 20000 FirstTime Home Buyers Tax Credit To assist firsttime home buyers with the costs related to the purchase of a home Budget 2009 introduced a FirstTime Home Buyers Tax Credit A 15percent credit will be applied to a 5000 amount and will provide up to 750 in tax relief to reduce the costs associated with first home purchases completed after January 27 2009 ecoENERGY Retrofit Homes Grant Canadians who spend money on home renovations will also be eligible to receive an ecoENERGY Retrofit Homes grant To be eligible for an ecoENERGY Retrofit Homes grant homeowners must first have a preretrofit evaluation ecoENERGY Retrofit Homes provides home and property owners with grants of up to 5000 to offset the cost of making energyefficiency improvements Federal grants paid through the ecoENERGY Retrofit Homes program will not reduce the value of claims made for the expenditures under the HRTC For more information contact the Canada Revenue Agency 18009598281 Reproduced with the permission of the Minister of Public Works and Government Services 2010 custom homes Installation of all interior trim doors and wall panelling Installation of custom library and in home offices Kitchen and bathroom renovation and remodelling Finished basement living spaces Limited company fully insured and qualified Ken Robertson President 4166698149 Dignity Choice Companion Human Comfort Support Community Ufa please cal us toll free at rUJUVfc 18778707246 or 905 8953628 Ext 294 18778707246 or 905 8953628 Ext 294 prograrnassistpalcarenetworkorg wwwpalcarenetworkorg This message brought to you as a community service of The Era Banner Cm rial Last chance for the See us Jot all your specialty flooring ami stair projects l5 JO sum Court NMHMrint M6853KS7 Receive up to 500 Instant Manufacturer Rebate 100 to off your purchase INSTANTLY VtsK our store for complete details FLOORING ENTER 7335 Street New market comet i Millard Yonj Call us for our Basement Specials