With the announcement of the 2009 budget, the Canadian government has added another value add program to help Canadian homeowners, the Home Renovation Tax Credit (HRTC). The tax credit is only available for renos completed within the next 12 months.
Even better, you can combine the above HRTC with existing government rebates applicable to energy efficient home improvements to save even more money!!
We are excited to share with you the following refinance tips to help grow your business. Let’s work towards a successful 2009! Read on…
Refinancing will help your pocketbook. What do I mean?
As part of the 2009 budget you may qualify for the Home Renovation Tax Credit (HRTC) of up to $1,350 for renovations completed within the next 12 months.
Did you know that you can obtain a 10% rebate on the mortgage insurance premium if you refinances your home to make it more energy efficient? Plus, the extended amortization without surcharge may be available to you. Note: this rebate also applies to folks who purchase an energy efficient home.
In addition to the 10% rebate, you may be eligible for additional federal and provincial grants of up to $10,000 under the Canada ecoEnergy Retrofit grant.
Additional benefits of the above programs:
Simple, energy efficient improvements are attractive because they offer lower monthly utility bills.
This translates into income for you, allowing you to free up income to qualify or buy a more expensive home increasing your borrowing power.
You’ll increase the resale value of your home as an official EnerGuide label proves you’ve done the work.
So give us a call here at the Great Life Team and let us know how we can help you take advantage of this tax credit. (416)445-8855 Ask for Aeriol.