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Renovation tax credit not yet approved: expert

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Renovation tax credit not yet approved: expert


Business | 206688 hits | Aug 06 8:27 am | Posted by: WDHIII
45 Comment

Canadians planning to take advantage of the Home Renovation Tax Credit should know that it has not been passed into law, though one expert says it is almost a certainty that they will be able to file for it on their taxes.

Comments

  1. by avatar Robair
    Thu Aug 06, 2009 7:12 pm
    It would be political suicide not to pass this now.

  2. by Anonymous
    Thu Aug 06, 2009 7:18 pm
    I would like to see Iggy or Layton try to vote it down. Instant Conservative majority

  3. by DerbyX
    Thu Aug 06, 2009 7:25 pm
    "gigs" said
    I would like to see Iggy or Layton try to vote it down. Instant Conservative majority


    http://money.canoe.ca/News/Other/2009/0 ... 6-sun.html
    But what is perhaps surprising about the tax credit is that it has drummed up so much interest even though it has yet to pass Parliament and will not be up for a vote until the fall.

    Don't worry

    Liberal finance critic John McCallum said he asked Finance Minister Jim Flaherty to put the credit in the spring budget implementation bill so consumers would have certainty, but Flaherty apparently declined.

    "I still think it will go through at the end of the day because we will certainly honour it, but people might still have a nagging doubt until it is passed and this could have been avoided," said McCallum.

    Ted Menzies, parliamentary secretary for the minister of finance, said there's no reason for consumers to worry. Since the passing of the ways and means motion in the spring, Revenue Canada has been operating under the assumption the credit is law.


    Instant majority for somebody anyway.

  4. by ridenrain
    Thu Aug 06, 2009 7:37 pm
    How dies this fit in with the Liberals "We must raise taxes" policy though?

  5. by DerbyX
    Thu Aug 06, 2009 7:39 pm
    "ridenrain" said
    How dies this fit in with the Liberals "We must raise taxes" policy though?


    Thats my policy. Iggy has stated he will not rule out a tax hike in order to eliminate the deficit. See the difference?

  6. by ridenrain
    Thu Aug 06, 2009 7:48 pm
    It's sad that a no-one party hack on a forum has a better known and more comprehensive platform than the leaser of a national party. He also is addopting the Dion Green Shift too so that will just add more tax to the burdened taxpayers also.

  7. by avatar PublicAnimalNo9
    Thu Aug 06, 2009 7:50 pm
    The irony is, the tax credit will be next to useless in Ontario anyway as McSquinty plans on taxing home reno's next year. Gotta LOVVVVE those Liberals.

    And the Liberals wanting to raise taxes again? What a shock, didn't see THAT one coming :roll:

  8. by DerbyX
    Thu Aug 06, 2009 7:52 pm
    "PublicAnimalNo9" said
    The irony is, the tax credit will be next to useless in Ontario anyway as McSquinty plans on taxing home reno's next year. Gotta LOVVVVE those Liberals.

    And the Liberals wanting to raise taxes again? What a shock, didn't see THAT one coming :roll:


    The Cons running massive long term deficits for the forseeable future.

    Didn't see that one coming? :roll:

  9. by avatar PublicAnimalNo9
    Thu Aug 06, 2009 8:04 pm
    well gee here's a thought, How about LESS taxes and more responsibilty with the taxes they DO get. BOTH parties are included btw.

    Hmmm, the Liberals claimed they balanced the budget. Balancing the budget also includes getting rid of the deficit. If it doesn't, then the budget isn't truly balanced.
    If indeed the budget was truly balanced and not fudged( as has been done by BOTH parties numerous times federally and provincially), how is it that Harper got away with running a big deficit in only 4-5 years of a minority government? He sure couldn't have pulled that one off all by himself.

  10. by DerbyX
    Thu Aug 06, 2009 8:07 pm
    "PublicAnimalNo9" said
    well gee here's a thought, How about LESS taxes and more responsibilty with the taxes they DO get. BOTH parties are included btw.

    Hmmm, the Liberals claimed they balanced the budget. Balancing the budget also includes getting rid of the deficit. If it doesn't, then the budget isn't truly balanced.
    If indeed the budget was truly balanced and not fudged( as has been done by BOTH parties numerous times federally and provincially), how is it that Harper got away with running a big deficit in only 4-5 years of a minority government? He sure couldn't have pulled that one off all by himself.


    The Liberals did eliminate the deficit. We had years of straight surpluses that went to pay down the debt.

    As for not pulling it off by himself. The cons keep tripping all over themselves claiming Harper was the most effective minority leader ever and the Libs did nothing but abstain so yeah by his own supporters he did do it.

  11. by ridenrain
    Thu Aug 06, 2009 8:16 pm
    The Liberals did eliminate the deficit .... by stealig from the EI program.
    :D

  12. by Anonymous
    Thu Aug 06, 2009 8:29 pm
    "ridenrain" said
    The Liberals did eliminate the deficit .... by stealig from the EI program.
    :D

    Okay, wait a minute.. So you are in favour of seasonal workers collecting EI, or you aren't? You can't have it both ways.

    You were complaining that these temporary E.I. measures would allow this to happen again.

  13. by avatar PublicAnimalNo9
    Thu Aug 06, 2009 8:31 pm
    I have no problem with REAL seasonal workers collecting EI but can you tell me, what work season is only 320 hours long???

  14. by Anonymous
    Thu Aug 06, 2009 8:38 pm
    "PublicAnimalNo9" said
    I have no problem with REAL seasonal workers collecting EI but can you tell me, what work season is only 320 hours long???


    But 420 is okay somewhere, and 700 is okay somewhere else during a recession when the unemployment rate is changing?



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  • Robair Thu Aug 06, 2009 11:12 am
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