Calculating the Tax Credit for the Restoration of a Secondary Residence

To calculate the tax credit for the restoration of a secondary residence, you must take into account its two components: the post-disaster clean-up and preservation component and the repair component.

Post-disaster clean-up and preservation component (2017 only)

The post-disaster clean-up and preservation component of the credit corresponds to 30% of the eligible post-disaster clean-up and preservation expenses over $500 paid in 2017 to have recognized post-disaster clean-up work or preservation work done.

The maximum credit available under this component is $3,000.

Expenses under this component must be paid by December 31, 2017.

Repair component (2017 and 2018)

The repair component corresponds to 30% of the eligible repair work paid before January 1, 2019, to have recognized repair work done.

The maximum credit available under this component is $15,000.

Expenses under this component must be paid by December 31, 2018.

Important

If your application concerns recognized post-disaster clean-up and preservation work and repair work, or if not all the work is recognized work, the contractor must give you a written statement showing the breakdown of the cost of goods and services supplied by the contractor for the different types of work carried out.

Fair. For all.

One vision. Concrete actions.

Read all about how we work to support and inform you. Our vision and values guide us as we carry out our role.

Veuillez patienter