(NC)—Thinking of doing some renovations – maybe redoing your kitchen or bathroom? The Federal Government's 2009 budget, has introduced a new home renovation tax credit (HRTC). You can be eligible to receive up to $1,350 in tax credits - so you no longer have to put off fixing that leaking roof or replacing the old furnace.

Examples of eligible renovations for the HRTC:

• 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.).

Combine it with grants for Eco Renovations

“What you may not realize is the HRT credit can be combined with other government programs that can help you save even more when you renovate your home,” advises Bernice Dunsby, RBC's senior manager home of equity financing.

“For example, making your home more energy-efficient can qualify you for grants under the ecoenergy retrofit program – up to $5000. This way you can save with both the home renovation tax credit and the retrofit programs.”

Government websites for the home renovation tax credit and ecoenergy retrofit program include www.budget.gc.ca/2009/pamphlet-depliant/pamphlet-depliant3-eng.asp and oee.nrcan.gc.ca/corporate/retrofit-summary.cfm.