Alec Caldwell
Counterpoint: Why now Mr. Harper?
Canadian ContractorAlec Caldwell may be reluctant to look a gift horse in the mouth, but questions the motives behind Stephen Harper’s recent HRTC campaign promise.
In response to the world economic crash of 2008, the Conservative government under Stephen Harper introduced the very successful Home Renovation Tax Credit. It ran for one year, January 2009 until February 2010. The maximum credit of $1,350 was based on purchases by homeowners put towards eligible renovations on their homes, reaching that maximum once the homeowners spent $10,000. Purchases of $1,000 or less received no tax credit.
This gave the home renovation industry across the country a much-needed boost throughout 2009. Consumers were compelled to hire many reputable (and HST-paying) home renovation contractors in order to carry out their home renovation work, thus improving the unstable economic conditions of the moment.
Harper said at the time “Every time Canadians invest in home renovations, they were helping to create construction and building-supplies jobs in their own communities,” and “By providing an incentive for Canadians to invest in their homes, we are also encouraging them to invest in local jobs.”
Harper’s 2015 election promise for a re-booted and permanent renovation tax credit is only a shadow of its former self; a maximum annual credit of only $775 based on the maximum purchases of $5,000……if he’s re-elected.
While it’s certainly better to have something rather than nothing, the question is: Why now? If this tax incentive is so important to Canadians, why wasn’t it re-introduced in 2011, 2012, 2013 or 2014?
You guessed it; there was no election looming then!
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