Tax Credits and Rebates for Homeowners
Renovation rebates and claims could lower your costs substantially!

Owning a home costs money, however, there are tax credits and rebates specifically for Canadian homeowners.

Cash in on rebates

Rebates depend on where you live but can include the following:

Insulation improvement— Up to $3,250
Ductless heat pump— $800
Ventilation fan installation— Up to $50
Draft-proof your home— Up to $500
Gas fireplace installation— $300
Windows & doors replacements— Up to $500
Appliances replacements— (each) $50+
Do over three upgrades— $750

  • Save up to $7,000

New home perk

If you just purchased a house, and you haven’t owned a home in the four previous years, you can qualify for the Home Buyers’ Tax Credit. To qualify, enter the amount of $5,000 on line 369 of your tax form, and you can receive a 15% credit.

  • This helps reduce the tax load by $750

Assess the abode

Before starting a major renovation, get an ecoENERGY assessment from a certified energy advisor. You’ll pay about $1,000 for before-and-after audits, but provincial rebates can reimburse these costs.

  • Rebates up to $500

Build safer and save

Renovations that improve a home's safety, or more accessible for seniors and the disabled—including: installation of grab bars and hand rails, the construction of walk-in or wheel-in showers,widening doorways and lowering cabinets­—qualify for a new tax credit that offers a rebate of 15%.

  • Save up to $10,000 (maximum)

More income, less tax

Rent out your basement or turn a hobby into a home-based business. Both allow you to deduct expenses, including: your mortgage, utilities, property tax, and insurance. Claim these deductions against income generated on your tax return.

Sources: Natural Resources Canada, Canada Revenue Agency, BC Hydro, Union Gas, Enbridge Gas, FortisBC, Prince Edward Island Government

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