Thursday, January 29, 2009

Up to $1350 In tax Credits for Insulation and other renovation upgrades here in the Okanagan

Canada will have to weather large deficits to “do what it takes to keep our economy moving,” including cutting taxes while boosting infrastructure and worker training, Finance Minister Jim Flaherty said in tabling the federal budget Tuesday.
Flaherty promises billions of dollars in new spending — ranging from money for infrastructure projects to aid for worker training, and cash for enhanced employment insurance (EI) benefits — to help the country ride out the global economic downturn.
"We must do what it takes to keep our economy moving, and to protect Canadians in this extraordinary time," Flaherty said in his budget speech in the House of Commons.

Help for current, wannabe homeowners
Flaherty also promised action to stimulate the housing sector.
A new home renovation tax credit would give up to $1,350 in tax relief on home improvement projects. The eligible expenses must be at least $1,000, but not more than $10,000, and the work would have to be done between Jan. 27, 2009, and Feb. 1, 2010.
The temporary credit would cost the government an estimated $2.5 billion for the upcoming fiscal year.

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Terry Laurin-TLC Energy Solutions
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1 comment:

Janee Martin said...

Investing in your home for energy efficient is a smart way to cut down on your energy savings for the long term and when the housing market picks up. Your home will be worth more.