Protected B when completed | ||||||||||||||
Step 1: Calculating your qualifying expenditures | ||||||||||||||
Complete this step to calculate the amount of MHRTC you can claim for the qualifying renovation. | ||||||||||||||
If you paid qualifying expenditures for more than one qualifying renovation, complete this step for each qualifying renovation using an additional sheet of paper. |
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Date on | Vendor or contractor | Amount paid | ||||||||||||
sales slip | GST/HST No. | Description | (including all | |||||||||||
or contract | Name |
(if applicable) | applicable | |||||||||||
taxes) | ||||||||||||||
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Total amount paid from all sales slips and contracts included | ||||||||||||||
in the table above and any additional sheets of paper | Total qualifying expenditures | = | 1 | |||||||||||
Any amount that can reasonably be considered to be reimbursed (including government | ||||||||||||||
assistance received or receivable) included in the amount on line 1 | – | 2 | ||||||||||||
Line 1 minus line 2 | (maximum $50,000 per qualifying renovation) | = | 3 | |||||||||||
Maximum amount per qualifying renovation | 4 | |||||||||||||
Amount of eligible expenses being claimed by other eligible individuals | – | 5 | ||||||||||||
Line 4 minus line 5 | = | 6 | ||||||||||||
Enter whichever is less: | ||||||||||||||
amount from line 3 or line 6. | Your qualifying expenditures for the qualifying renovation | 7 | ||||||||||||
Step 2: Calculating your MHRTC | ||||||||||||||
Add the amounts from line 7 for each qualifying renovation. | Your total qualifying expenditures | 45354 | 8 | |||||||||||
Applicable rate | x 15% | 9 | ||||||||||||
Line 8 multiplied by the percentage from line 9 | Multigenerational home renovation tax credit | |||||||||||||
Enter this amount on line 45355 of your return. | (maximum $7,500 per qualifying renovation) | = | 10 | |||||||||||
See the privacy notice on your return. | ||||||||||||||
5000-S12 E (23) | Page 3 of 3 |