Individuals who hesitated to give in to a last minute renovation decision could rest easy. March 31, 2018: This is the new deadline for entering into an agreement with a contractor and benefiting from the tax credit for eco-responsible residential renovations. Individuals will have to pay their renovation expenses before January 1, 2019.
The rules are the same as before: the eligible expenses will be reimbursed up to 20% of the amount of the work, for a minimum expenditure of $ 2,500 and a maximum of $ 52,500. Individuals will receive up to $ 10,000. More information available at the RevenuQuebec website
“Ecofibre welcomes the 2017-2018 Budget tabled today by the Government of Quebec and applauds in particular the decision to extend the RénoVert renovation tax credit. Through this budget, the government demonstrates that it sees the housing sector as a key player in promoting economic growth. This refundable tax credit is being introduced to encourage individuals to carry out recognized home renovation work that has a positive impact on energy or the environment. Consumers, the renovation industry and government are all winners with the extension of this credit.”
If you would like to know more about this very advantageous tax credit please contact us and it would be our pleasure to answer any questions you may have.