Regarding the eligibility for the HRTC of expenditures made or incurred by a syndicate of co-owners during the eligible period to acquire property in the same period that will not be used until after the eligible period – or of expenditures made or incurred during the eligible period for the development of renovation plans when the plans so developed will not be used until after the eligible period – CRA stated:
Expenditures made or incurred by a syndicate of co-owners in the eligible period for property acquired in the eligible period will be qualifying expenditures for the HRTC even if the qualifying renovations relating to that property is not carried out until after January 31, 2010.
Similarly, expenses made or incurred by a syndicate of co-owners during the eligible period for services rendered in that period, such as the development of a renovation plan, will be qualifying expenditures for the HRTC even if the qualifying renovations relating to those services is not carried out until after January 31, 2010.
However, expenses made or incurred by a syndicate of co-owners during the eligible period for services relating to qualifying renovations that are not rendered until after the eligible period will not be eligible for the HRTC.