Prime Minister Stephen Harper unveiled his first promise of the campaign – a permanent tax credit for home renovations.
Taxpayers would be able to claim up to 15 per cent of the cost of permanent “substantial” renovations to homes, condos and cottages. The tax credit would apply to renovation costs between $1,000 and $5,00, allowing a taxpayer to get back up to $750 a year.
This promise is expected to cost $1.5 billion a year. However, exactly when the tax credit would become a reality is a question mark.
Do you think this is a move to take away from the black market? Would you still opt for the cash renos?