Canadian Home Improvement Tax Credit for Retailers
11 Mar
Home Renovations Tax Credit
There are big opportunities in the 2009 Canadian Federal Budget to help retailers boost their business. In the 2009 Canadian Federal Budget announced on January 27th, The Honourable Jim Flaherty, Finance Minister, included a Home Renovations Tax Credit (HRTC).
How the Temporary HRTC Will Work
The proposed HRTC will provide a temporary 15-per-cent income tax credit on eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, pursuant to agreements entered into after January 27, 2009. The credit may be claimed for the 2009 taxation year on the portion of eligible expenditures exceeding $1,000, but not more than $10,000, and will provide up to $1,350 in tax relief.
Eligible expenditures include:
* Renovating a kitchen, bathroom or basement
* New carpet or hardwood floors
* Building an addition, deck, fence or retaining wall
* A new furnace or water heater
* Painting the interior or exterior of a house
* Resurfacing a driveway
* Laying new sod
If your business provides any of these products and/or services, what are you doing to help promote this new tax credit to your potential customers?
Check out the details for yourself by reading the Canadian 2009 Federal Budget. HRTC starts on Page 127.
In our business (home and garden centers and landscape services), we’re already designing signage and brochures to help educate our customers and clients (as well as our front line staff). This is a great opportunity and a real win-win for your customers and your business!
Andy
Click here for Part II of this post
Andy Buyting has been in the retail industry since he was six years old. Today, he applies his entrepreneurial know-how to Green Village Home & Garden, one of Canada's most successful specialty garden stores. Green Village Home & Garden is currently expanding into multiple locations throughout eastern Canada.
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Thank you very much I appreciate your help That is very kind of you website
take advantage while you can cause it will be gone before you know it. even if it’s something small it’s worth utilizing the credit.
No way!
A Couple of days ago I got a phone message from 9722840600 and was pretty sure the call was a scam.
So I decided to complain and dialed the number and complain.
Make a long story short Gulf Coast Western -an Oil drilling corporation- was calling me back was calling to tell me I got the job!
How do I fix the complaints?!!!
In home renovation project there must be also a service wherein the arrangement of cables and wires is being organize for a better look of the house itself.
This is another burden for many small businesses in Canada.