The cost of water well drilling is eligible for the Home Renovation Tax Credit (HRTC) only for the 2009 tax year. The HRTC applies to eligible purchases made after January 27, 2009, and before February 1, 2010. The HRTC applies to eligible expenses of more than $1,000, but not more than $10,000, resulting in a maximum non-refundable tax credit of $1,350
To learn how to claim and/or calculate the Home Renovation Tax Credit in Canada please see the HRTC website