#1: The Home renovation Tax Credit

The Home Renovation Tax Credit–How it works

Renovating is a great way to add value to your home. It can make your house a more comfortable environment for you and your family, and even reduce your energy bills. With the introduction of the new Home Renovation Tax Credit (HRTC), this might be the best time to begin the renovations you’ve been planning.
The government has given us a temporary 15-per-cent Home Renovation Tax Credit (HRTC) The HRTC will apply to eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, pursuant to agreements entered into after January 27, 2009.
The 15-per-cent credit may be claimed on the portion of eligible expenditures exceeding $1,000 but not more than $10,000, and will provide up to $1,350 in tax relief.

Examples of HRTC Eligible and Ineligible Expenditures
Eligible
Renovating a kitchen, bathroom, or basement
New carpet or hardwood floors
Building an addition, deck, fence or retaining wall
A new furnace or water heater
Painting the interior or exterior of a house
Resurfacing a driveway
Laying new sod

Ineligible
Furniture and appliances (refrigerator, stove, couch)
Purchase of tools
Carpet cleaning
Maintenance contracts (furnace cleaning, snow removal, lawn care, pool cleaning, etc.)