kitchen, bathroom, and/or basement renovations.painting the interior or exterior of a house.For example, if you claim $3,500, your spouse can claim the remaining $5,000. Either you or your spouse can claim the entire $8,500 or you can each claim a portion of it. On your 2021 tax return, calculate the tax credit as follows: Total qualified expense of $9,500, less the $1,000 base amount = $8,500. Example of splitting the tax credit between family members: You and your spouse enter a contract for the purchase and installation of a new furnace after October 1, 2020, and pay $9,500 for this renovation.For expenses incurred for common areas or that benefit the housing unit as a whole (e.g., re-shingling a roof), divide the expense between personal use and income-earning use and claim the personal-use portion. If you earn rental or business income from part of your eligible dwelling, you can only claim the amount for expenses incurred for the personal-use areas of your dwelling.The maximum total of qualified expenditures that you can claim is $20,000. If you sell and purchase an eligible dwelling during the eligibility period, qualified expenses that you incur for both dwellings will be eligible (however, each dwelling must have been your permanent residence at the time the renovations occurred).Eligible family members include you and your spouse or common-law partner and you or your spouse/common-law partner's children who are under 18 years of age at the end of 2021. The tax credit can be split among eligible family members, but the total amount claimed cannot exceed the maximum allowable.Total qualified expenses incurred between January 1, 2022, and December 31, 2022, in excess of $1,000 (base amount), but not more than $10,000, can be claimed on your 2022 tax return (maximum claim of $9,0).
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