Thursday, September 3, 2009

I called it! Stephen Harper planning to use YOUR TAX DOLLARS as a bargaining chip in fall election

I called this months ago!

As soon as I "discovered" that the "Home Reno Tax Credit" that has been touted as one of the saving graces of local economies across Canada, was not actually Law.

My prediction was that this absolute tax break was going to resurface as a hot-button election issue, and here it is, landing in my lap, courtesy of the CBC.

The good people at Home Depot, Lowes, Rona, and Canadian Tire have managed to peddle their wares on us for the past 7 months under the guise of a sure-fire tax rebate, prompting Canadians to spend when perhaps they should be holding on to their cash, all the while knowing that the HRTC was not actually law. The government of Canada has even produced and paid air time for "Public Service" style advertisements instructing us (in Harper's true wisdom) to "go out and spend" on home renovations, and we'll see a break on our income taxes.

In my day-to-day life I come in contact with many tradespeople who have noticed a resurgence in home-renovation jobs this year, which has definitely helped the handyman have a great year, despite the economic turmoil. In that way, this Home Reno Tax Credit has been a fantastic ploy by the Conservative government to get us to go out and spend. We get a small break on our income taxes, it encourages tradespeople to work "above board" (ie. claim their income!), and homeowners all see increases in their equity.

I just hope some late 2009 position jockeying by the ruling parties of this country doesn't cost the honest taxpayer their 15% tax break.

References: CBCnews

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