This tax credit is a temporary measure aimed at helping homeowners renovate, add-on to, adapt to meet a family members special needs or to transform the house into an intergenerational home.
It is offered to any individual, owner or co-owner, who contracts the renovation of his or her principal residence, as long as it consists in one of the following types of home and that its construction was completed before the January first 2014 :
- a single home (This link will open a new window);
- A prefabricated or mobile house installed as a residence;
- a co-owned apartment in a building (condominium);
- A residence in a duplex or triplex.
The renovations must be done by a qualified contractor (This link will open a new window) in a contract signed after April 24th 2014 and before July 1st 2015.
This financial aid granted by this tax credit for admissible homes has a maximum of $2,500. And is equal to 20 % of admissible expenses that exceed $3,000.
No adjoining construction or accessory to the residence, except for an attached garage or carport, will be considered as part of an individual’s admissible residence. For example, porches, balconies, terraces, storage sheds, gazebos, outdoor swimming pools or spas will not be considered as part of an individual’s admissible residence.
As for a divided and co-owned apartment (condominium), only the private living quarters will be considered as part of an individual’s admissible residence, that is the part of the building that is exclusively owned by the individual and thus excludes communal sections, be they of limited use or not. For example, for apartments in co-owned and divided buildings, major structures (roofs, exterior walls etc.) as well as common-use appliances such as central heating or air conditioning systems as well as their ductwork will not be considered as part of an individual’s admissible residence.
For more information on admissible renovations, consult the List of recognized renovations.
- Work acceptance for an ÉcoRénov tax credit application will only be applied to application for an ÉcoRénov tax credit at the expiration of the an ÉcoRénov tax credit, that is if the work is completed after October 31st 2014.
- Furthermore, this Financial assistance granted by this tax credit can be added to the tax credit offered to homeowners for eco-energy based renovation Under the Rénoclimat program through the administration of the Energy and Natural Resources ministry