Here are two financial assistance programs for renovation work that can significantly reduce your bill. The LogiRénov program ends on July 1, 2015. A number of municipalities also offer financial assistance for renovations. Take the time to check with yours!
LogiRénov is a refundable tax credit that is made available on a temporary basis to encourage households to renovate or extend their homes, adapt them to the special needs of a family member or convert them into intergenerational homes.
It is aimed at owners or co-owners of a dwelling who carry out renovation work on their principal residence, provided it is one of the following types of dwellings and that its construction was completed before January 1, 2014:
- A single-family home;
- A pre-fabricated house or mobile home permanently secured in place;
- An apartment in a building held in divided co-ownership (condominium);
- A dwelling in a residential duplex or triplex.
The renovation work must be performed by a qualified contractor under a contract entered into between April 24, 2014, and July 1, 2015.
The financial assistance provided through this tax credit is equal to 20% of eligible expenditures exceeding $3,000. Its maximum amount is $2,500.
Note that you can only apply for the LogiRénov tax credit for the 2014 and 2015 fiscal years at the time of filing your tax return. You must keep your supporting documents (quotes, estimates, invoices, etc.) for six years in order to provide them upon request.
For more information on eligible renovation work, see the “List of recognized renovation work” on the Revenu Québec website.
In addition to this refundable tax credit, you may be eligible for the financial assistance offered for eco-friendly home renovations under the Rénoclimat program run by the Ministère de l’Énergie et des Ressources naturelles.
If you find your heating costs too high, Rénoclimat may just help you to lower them.
Rénoclimat is a government program that is available since 2007 to encourage homeowners to improve the energy efficiency of their homes. On average, it has allowed participants to save 20% on their heating bills. The costs for energy-efficient renovations can thus be recouped in a few years. Also note that it is now possible to participate several times in the Rénoclimat program for the same home.
Rénoclimat will guide you in your home renovation project. You will benefit from an on-site evaluation from a Rénoclimat advisor at a reduced price and will receive personalized advice to improve the energy efficiency of your home.
You may be eligible for financial assistance under the Rénoclimat program if you are:
- carrying out insulation work;
- carrying out work affecting your home’s air tightness;
- installing or replacing mechanical systems (ventilation system, water heater, heat pump, geothermal heating system).
Here are the different types of housing eligible under the Rénoclimat program:
- Single family homes (including semi-detached, row or mobile homes)
- Multiple-unit residential buildings with 4 to 20 units.
Note that you need to make an appointment with an energy advisor before starting your renovation. To know all the features that the homes must have, see the “Eligibility criteria” on the Rénoclimat website.
You may also obtain funding for the replacement of an oil-fueled heating system (or other qualified fossil fuels) by a system powered by electricity (or other renewable sources of energy) through the “Heating with Green Power” program. This financial assistance may be given with or without an energy evaluation of the home.
Montréal and Laval, among other cities, also offer their own renovation programs. Check on their website if you are eligible.