34. Tax credit for the restoration of a secondary residence (Line 462)

You may be entitled to this tax credit if you or your spouse paid eligible repair expenses in 2018 to restore a secondary residence that was damaged by the severe flooding that hit a number of Québec municipalities from April 5 to May 16, 2017.

To be entitled to the tax credit, you must meet all the following conditions:

  • You were resident in Québec on December 31, 2018 (or on the day you ceased to reside in Canada in 2018).
  • You were the owner or co-owner of the residence when the expenses were incurred.
  • You obtained, from the municipality where the residence is located, a certificate confirming that the subjacent land was hit by flooding that occurred in a territory covered by the Programme d'aide financière spécifique relatif aux inondations survenues du 5 avril au 16 mai 2017 (special financial assistance program for the flooding from April 5 to May 16, 2017).
  • The residence does not qualify as a principal residence under the program.
  • You have an expert's damage assessment report describing the damage caused to the residence.

Calculating the tax credit

For 2018, the tax credit corresponds to 30% of the eligible repair expenses paid in 2018, by December 31, for recognized repair work. The maximum credit available for 2017 and 2018 is $15,000. For 2018, you can only claim expenses paid in 2018.

Note

The tax credit for the restoration of a secondary residence has two components: the repair component (2017 and 2018) and the post-disaster clean-up and preservation component (2017 only). If you paid post-disaster clean-up and preservation expenses in 2017, you may be entitled to this component for 2017 (certain conditions apply). For more information about the post-disaster clean-up and preservation component, see the 2017 version of form TP-1029.RE-V, Tax Credit for the Restoration of a Secondary Residence.

Claiming the tax credit

To claim the tax credit, complete form TP-1029.RE-V, Tax Credit for the Restoration of a Secondary Residence. However, you do not have to complete it if you meet all of the following conditions:

  • In 2018, you received one or more advance payments of the tax credit for the restoration of a secondary residence.
  • You claimed all of your eligible expenses for 2018 as advance payments.

If you choose not to complete form TP-1029.RE-V, enter the amount from box H of your RL-19 slip on lines 441 and 462 of your return.

Advance payments

If you received advance payments of the tax credit in 2018, enter the amount from box H of your RL-19 slip on line 441.

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