John Stefanis sent us this post about how Ottawa’s (now discontinued) Home Renovation Tax Credit helped to cut down on the underground economy in our industry.
“Perhaps CRA should (again) consider allowing homeowners to write off a percentage of home renovations and service work? Something like the ”Home Renovation Tax Credit.” This would allow for an even playing field when estimating the job.
I am constantly being asked to match prices submitted by “non-compliant ” companies who ask for a cash payment to avoid HST. With the new (Ontario) WSIB charges and HST percentage I submit, it becomes clear that the cards are stacked against the legitimate contractor.”