I would love to see a return to some sort of tax credit for homeowners (who hire above board contractors)
"The HRTC tax credit was brilliant... Rest in peace, Jim Flaherty. A genius."
By Steve Payne
Here’s another comment on why we all need to get Ottawa to reinstitute the Home Renovation Tax Credit. Thanks to long-time contributor Jim Groves for the post.
“The HRTC tax credit was brilliant. Not only did it immediately pump billions into a struggling economy, it made contractors hand out invoices. A lot of the underground economy is in the smaller jobs, baths, decks, etc. and this all fell into the $10,000 range of work. With HST, new comp rules, Ontario College of Trades, etc., the added burden of taxes is borne by the customer. They feel it is OK to cheat as the government t is taking advantage of them. I would love to see a return to some sort of tax credit for homeowners who report (their projects to government) as it is an incentive to do the right thing. Rest in peace (f0rmer Finance Minister) Jim Flaherty. A genius.”