Quebec is extending the tax credit program RenoVert for doors and windows renovation

Crédit d'impôt Rénovert rénovation

The Quebec government has extended the RenoVert tax credit program for renovation. RénoVert, a refundable tax credit designed to encourage Quebec individuals to undertake environmentally friendly renovation work carried out by recognized contractors.

The period of eligibility for the RénoVert tax credit has been extended to March 31, 2018.

The RénoVert refundable tax credit will equal 20% of eligible home renovation expenditures incurred by an individual in excess of $2 500, up to a maximum of $10 000.

 

Principal parameters of the refundable RénoVert tax credit

 

Floor for eligible expenditures : $2 500

Tax credit rate : 20.0%

Maximum tax credit amount : $10 000

Eligible renovation expenditures subject to the maximum tax credit : $52 500

 

Value of the RénoVert refundable tax credit depending on the amount of eligible home renovation expenditures

 

2 500    : 0

5 000    : 500

10 00    : 1 500

15 000  : 2 500

20 000  : 3 500

25 000  : 4 500

40 000  : 7 500

52 500  : 10 000

 

Eligible work includes installation of doors and windows.

 

To benefit from the tax assistance provided by the RénoVert refundable tax credit,individuals must enter into a contract with a recognized contractor to have the renovation work on their home done.

 

The agreement with the contractor must be concluded before April 1, 2018. However, individuals will have until January 19, 2019 to pay the renovation expenses covered in the contract.

 

For more informations : click here.

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