New Tax Credit for Public Transportation (BC Ferries)

A friend of mine just let me know about a new tax credit that the Federal Government has brought in for use of public transportation. The BC Ferries website has information about qualifying your ferry trips for a tax credit and it looks like you will need to have 16 round trips in a 31 day period, which will effect residents on Gabriola that commute to Nanaimo for work. These will need to be paid for using an electronic payment card. You will need to register your BC Ferries experience card online or by phoning the Customer Service Center (1 888 223 3779). Once a card is registered you will be able to obtain a travel history report, this can be printed and will show all the trips taken on the card. For more information about the federal income tax credit for public transit, visit the Canada Revenue Agency Website and talk with your accountant. You may also want to read the full article on the BC Ferry website.

Canada Home Renovation Tax Credit - Making the most of it.

It's that time of year, when I'm rifling through my pockets, purses, drawers and files looking for every last receipt. This year, I'm making sure I set aside a stack that I can use towards the Home Renovation Tax Credit. I wanted to check what I could include towards it, and it was surprisingly more than I had realized.
Canadian homeowners can get up to $1,350 in tax credits for home renovations made between January 27, 2009 and February 1, 2010 (so you have two and a half weeks if you haven't done your home renovations yet).
The HRTC allows families to claim 15 per cent of home improvement expenses, between $1,000 and $10,000, on their 2009 income tax return. This gives families up to $1,350in nonrefundable tax credits, which reduce the total amount of income tax they must pay.

Here's a list of eligible expenses from the Canada Revenue Agency website:

• Renovating a kitchen, bathroom, or basement
• Windows and doors
• New flooring - carpet, linoleum, hardwood, floating laminate, etc.
• New furnace, woodstove, boiler, fireplace, water softener, water heater, or oil tank
• Permanent home ventilation systems
• Central air conditioner
• Permanent reverse osmosis systems
• Septic systems
• Wells
• Electrical wiring in the home (e.g., changing from 100 amp to 200 amp service)
• Home security system (monthly fees do not qualify)
• Solar panels and solar panel trackers
• Painting the interior or exterior of a house
• Building an addition, garage, deck, garden/storage shed, or fence
• Re-shingling a roof
• A new driveway or resurfacing a driveway
• Exterior shutters and awnings
• Permanent swimming pools (in ground and above ground)
• Permanent hot tub and installation costs
• Pool liners
• Solar heaters and heat pumps for pools (does not include solar blankets)
• Landscaping: new sod, perennial shrubs and flowers, trees, large rocks, permanent garden lighting, permanent water fountain, permanent ponds, large permanent garden ornaments
• Retaining wall
• Associated costs such as installation, building plans, permits, professional services, equipment rentals, and incidental expenses
• Fixtures - blinds, shades, shutters, lights, ceiling fans, etc.

I'm going home to add up my receipts and see if I need to complete any more home renovations in the next few weeks, might be a busy month on Gabriola. (Submitted by: Tina Lynch)