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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15720
Experience:  15years with H & R Block. Divisional leader, Instructor
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Second opinion] - Iam remodeling my basement in my one

Customer Question

Second opinion] - Iam remodeling my basement in my one family home.can I claim for this on my taxes next year
Submitted: 11 months ago.
Category: Tax
Expert:  Robin D. replied 11 months ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  Robin D. replied 11 months ago.

Your country is listed as CANADA so I will only apply Canadian law. If you are asking about another country please advise.

You may be entitled to claim the GST/HST new housing rebate if you:

  • substantially renovated your existing house;
  • converted a non-residential property into a house; or
  • built a major addition onto your existing house if, along with that addition, you also renovated the house.

Generally, 90% or more of the interior of an existing house is the minimum that has to be removed or replaced to qualify as a substantial renovation (90% test). Remodeling your basement would not be enough.

If this remodel improved access for someone with a disability then you may be allowed to claim a credit.

If this home was used for rental you could claim as a capital expense.

The action would need to be under one of the above for you to claim any.

Expert:  Robin D. replied 11 months ago.

If you rate in a positive way (look for the STARS or SMILEY FACES) I am credited with responding. It adds nothing to your costs but it assists me.