Amount of the RénoVert Tax Credit
The period of eligibility for the RénoVert tax credit has been extended to March 31, 2018, for all recognized work other than the construction, renovation, modification or rebuilding of a system for the discharge, collection and disposal of waste water, toilet effluents or grey water in accordance with the requirements set out in the Regulation respecting waste water disposal systems for isolated dwellings.
For more information, click RénoVert Tax Credit Extended to 2018.
If you were resident in Québec on December 31, 2016, you may be able to claim the refundable RénoVert tax credit for 2016 in respect of recognized eco-friendly renovation work done to an eligible dwelling (This link will open a new window) you own or co-own. You may also be entitled to the credit for 2017 if you were resident in Québec on December 31, 2017.
To claim the credit, you must have had recognized eco-friendly renovation work done to your principal residence or to a winterized cottage that you normally occupy by a qualified contractor (This link will open a new window) under a contract entered into after March 17, 2016, and before April 1, 2017.
If you own an intergenerational house (This link will open a new window) that is your principal residence, you can elect to consider each independent dwelling within the house as a single-family home that constitutes your principal residence, in which case each dwelling will be considered an eligible dwelling for purposes of the tax credit.
The amount of the tax credit, capped at $10,000, corresponds to 20% of the amount by which your eligible expenses paid in respect of the eligible dwelling exceeds $2,500. For 2016, the eligible expenses must have been paid after March 17, 2016, but before January 1, 2017. For 2017, they must have been paid after December 31, 2016, but before October 1, 2017.
If you incurred eligible expenses in respect of your residence in both 2016 and 2017, the eligible expenses that will be used to calculate the tax credit for this residence in 2017 will not be reduced by $2,500. Only the portion of this amount that did not reduce your eligible expenses for 2016 will be deducted from your eligible expenses for 2017.
If you co-own the eligible dwelling, you can split the amount of the tax credit with the other co-owners. However, the total amount claimed in respect of the dwelling cannot exceed $10,000 (the maximum amount for an eligible dwelling).
You must also subtract from your eligible expenses the amount of any government assistance (except assistance received under the Rénoclimat program), non-government assistance or other assistance you received, including indemnities paid under an insurance contract.