There are many ways to get tax credit if you keep your paperwork right way during the year. Simple Home Budget helps you track your expenses easy and provides with ready paperwork at the and of year.
For example, Canada’s Economic Action Plan provides The Home Renovation Tax Credit up to $1,350 for 2009. More details are on the official page.
Simply create the “Home Renovation” category and enter your Home Depot, Rona, IKEA, or other related expenses there under this category. At the end of 2009, get YTD (Year To Date) amount for this category and get 15% from that amount as your tax credit (actual maximum credit amount is $1,350).
EASY! You can do with Simple Home Budget or Simple Home Budget Lite.
Check other taxation tips and keep track of the expenses eligible for the tax relief (for example, medical expenses). Keep them under separate category to get total amount easily. Don’t forget to keep physical receipts as the proof. By the end of year simply get the amount included in your tax form and receive your tax credit.
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