RENOVATION CREDIT

From now until Feb. 1, 2010, the federal government's Home Renovation Tax Credit will offer homeowners a tax break on fixing up their homes, which is expected to bolster employment in the construction sector and help the market for B.C. forest products. Details of how it works are below.

- the tax credit: 15 per cent

- For renovations worth more than $1,000 to a maximum $10,000

- Maximum credit: $1,350

- Homeowners claim the credit on their 2009 tax returns

- Eligible expenses include: kitchen, bathroom or basement renovations; new carpeting or flooring; building additions, decks, or retaining walls; installing furnaces or water heaters; interior and exterior painting

- Ineligible expenses include: routine maintenance, the purchase of furniture, appliances, tools and snow removal

- Estimated number of families to benefit: 4.6 million

- Total value: $3 billion

Source: Federal budget.