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The RenoVert program: How much does it pay?

The RenoVert program: How much does it pay?

August 09, 2016, 12:00 PM

Subsidy programs

The RenoVert program: How much does it pay?

The RenoVert program is an aid to eco-responsible renovations offered by the Government of Quebec. It is a refundable tax credit, that is to say, the amount granted you is refunded with your "tax return" (unlike a tax deduction which is deductible on your taxable income).

See the eligibility criteria

Why is it very interesting to enter into a contract agreement with a contractor before the end of 2016? Simply because you will be able to claim your credit on your 2016 income tax report and receive reimbursement in April 2017. If you enter into a contract agreement after that, you will have until April 2018 for your refund ... it will just take longer.

Here are examples of how much you can claim:

 

Eligible
expenses*
Tax credit
calculation
Refundale
tax credit
2 500 $(2 500$ - 2 500$) X 20% =- $
5 000 $(5 000$ - 2 500$) X 20% =500 $
7 500 $(7 500$ - 2 500$) X 20% =1 000 $
10 000 $(10 000$ - 2 500$) X 20% =1 500 $
12 500 $(12 500$ - 2 500$) X 20% =2 000 $
15 000 $(15 000$ - 2 500$) X 20% =2 500 $
17 500 $(17 500$ - 2 500$) X 20% =3 000 $
20 000 $(20 000$ - 2 500$) X 20% =3 500 $
25 000 $(25 000$ - 2 500$) X 20% =4 500 $
.........
52 500 $(52 500$ - 2 500$) X 20% =10 000 $

 


* Eligible expenses include the products (doors and windows), installation, taxes (GST and QST) and permit fees (if applicable).


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