LogiRénov: a new tax credit
May 23, 2014
From April 24 until July 1 2015, you will be able to claim a new tax credit introduced by the Quebec government: LogiRénov. You will have until December 31 2015 to have your restoration work carried out and paid for to be able to qualify.
LogiRénov is open to all individuals, whether single or joint owners, who wish to renovate, extend, alter or transform one of the following property types into an intergenerational home:
- detached house
- prefabricated home or a permanently installed mobile home
- an apartment in a condominium
- accommodation in a duplex or a triplex for residential purposes
Set at a rate of 20% for totals greater than $3,000.00, the LogiRénov tax credit enables you to recover a maximum total of $2,500.00 for all these types of work, which must be carried out by a contractor of good repute.
This new tax credit applies alongside the existing ÉcoRénov credit that encourages environmentally responsible renovations.
With LogiRénov; the government expects to be able to help some 220,000 households in Quebec to reduce their expenses by improving their homes. In particular, the government wishes to boost the economy and generate expenditure on domestic renovations worth more than $3 billion to safeguard some 20,000 jobs throughout the program’s duration.
Entrust Puits Bernier with your work and you will be able to claim this tax credit! Please feel free to contact us or to visit the Quebec government’s website for more details.
