In a media release issued on November 2, 2009, the Ontario Home Builder’s Association urges the government to reconsider current HST laws, in an effort to protect homeowners and OHBA members from underground renovation schemes. According to the advisory, the government will lose up to$1.6B annually in falsified income tax schemes, and as much as $298M per year in GST as consumers choose to pay cash.
To curb growing activity in the underground economy, save jobs and stem government revenue losses, OHBA says consumers should get HST and GST rebates on contractor renovation projects. For example, the current Home Renovation Tax Credit has been tremendously popular and encourages consumers to seek out legitimate contractors.
With the future of the Home Renovation Tax Credit unknown, and the looming HST introduction for July 1, 2010, the future looks somewhat uncertain for the renovation industry. To find the full Altus report on the impact of sales tax harmonization on the residential renovation sector, please visit the Ontario Home Builder’s Association website.
Posted 4 months ago at 4:57 pm. Add a comment
This year the Government of Canada introduced the new Home Renovation Tax Credit, a first of it’s kind. Due to the recent slump in economic markets and consumer spending, the 2009 budget includes new programs such as the Home Renovation Tax Credit, to make investing in equity easier and more rewarding to Canadians. Find out what that means for your next renovation project with Super 7 Group! Continue Reading…
Posted 9 months, 4 weeks ago at 2:57 pm. Add a comment
Many people don’t realize that contracts fall into three categories: Lump Sum Tender, Construction Management or Design/Build. Depending on the details of your project, owners may opt for one category over another, so it’s important to know what type of contracting a job you need. Continue Reading…
Posted 12 months ago at 5:07 pm. Add a comment
Do you have questions about renovation, landscaping, or design? If so, this is your forum to ask questions and interact with our expert construction and tradespeople.
E-mail us your questions about construction, renovation, landscaping, and design, and we’ll feature your question on our new blog. In addition, you’ll receive a free design consultation from our expert project managers.
In addition, we’ll feature hot topics on construction and interesting reading materials for anyone considering starting a project.
-The Super 7 Team.
Posted 1 year, 1 month ago at 3:32 pm. Add a comment
