After reading no newspapers, watching no TV, and reading no blogs for 2 weeks, I really didn't miss much! Seriously, even my Liberal Catholic Mom couldn't get upset about whether PM Harper ate the host or not. She blamed the Bishop, not the PM. Other than that we got a good laugh about "my" PM Harper being late for the photo op again.
What all of us did agree on, was the one stimulus measure that all Canadians seem to be taking advantage of, if they can... the home renovation credit. My parents painted their house, my brother added a deck, and my sister needs no help renovating at anytime. We all have something planned this year so that we can take advantage of that credit.
As we traveled from Alberta to BC, we ran into some road construction, but not anymore than usual for this time of year. What we did notice were the houses getting new shingles, decks and even landscaping. Why do people actually pay for rocks??
All the stimulus money that is flowing does not impact us in a visible form. Sure a needed bridge or road will get built, but even though it is taxpayers money, we don't associate it with actual money out of our pockets. It's just money that the government has already taken from us and there is nothing we can really do about how it is spent.
I keep hearing about how 90% of economists think the GST reduction was not the way to go. My pocketbook hears the extra money hitting it's bottom everyday. I especially noticed it in BC where they also have the PST. My son was going to buy a game until he realized he would have to pay the PST. BC gas prices were 103.6 yesterday, we paid 109.? in Blue River BC. Today I noticed our gas price was 86.?. Thank goodness we don't have BC's PST nor their carbon tax. My parents are already sleeping without the air conditioner on in 30 degree weather, as it costs too much. They are dreading the winter.
If an election is coming this fall, I have some advise for the Conservatives. Extend the home renovation credit. It's simple, home owners understand it, and it is generating revenue for all sorts of companies, from landscapers to heating/refrigeration companies. How many of you are renovating this year to take advantage of the credit? I know we are, and I could always do more next year.
If we must have stimulus spending, at least extend the home renovation credit, it is visible to everyone who looks at their new roof or bathroom.
29 comments:
You hit it right on the nose.On my crescent in Ottawa,every second house has either a new roof,driveway,deck,windows or house renovations.Myself i have already spent close to $8,000 on renovations,new floors,low flow toilets etc.What a great way to keep the economy going in a positive direction.And i also had a bonus with my renovation i found a private contractor on my street who did all my renovations,3 new porcelain floors ,new door,3 new toilets,closet door etc & he did it all himself.So it has been a great experience and a well thought out plan by the Conservatives.
What's so wonderful about the home renovation credit? Spend 10,000 just to get a piddly 1,300 off your income tax? Is that economic stimulus? I don't think so.
It is economic stimulus when you think of the tradesmen getting paid for doing those renovations. They will have more money to spend on other things, plus have an income to pay taxes on. GST is being paid on all the material going into those renovations. And, that 1300. saved in income tax will give the taxpayer more money to spend on what they want or need. Yes, it is stimulus, by the people for the people.
All the arguments re cutting the gst, I don't think the average person realizes how much they pay in gst in a year. They think it is only on big items, like cars or tvs. They don't realize they pay it on almost everything they buy or use. It averages out to about 2000./yr. Look at the bottom of your sales slips when you buy a movie ticket, popcorn, paper, magazine, utility bill, gas, junk food, restaurants, and so many more items. Even at the grocery store you will pay gst on several items.
MaryT there aren't enough roofs in Canada to fix as the middle class shrinks - that credit only works for people who no longer have mortgages. If you don't think that ten grand is better against your mortgage you are screwed. Additionally it is a smoke screen for the failure of the Action Plan Shovel Map where every project is yet to be commenced and every budget is somewhere between 500,000 and a mil.
Q: "Why do people actually pay for rocks??"
Just to give you an idea of how stupid this sounds...
A: Because as part of the Conservative Action Plan if you buy enough of them, and call it a home improvement, Fatso might give you some money off your income taxes.
Re:"All the stimulus money that is flowing does not impact us in a visible form. Sure a needed bridge or road will get built, but even though it is taxpayers money, we don't associate it with actual money out of our pockets. IT'S JUST MONEY THAT THE GOVERNMENT HAS ALREADY TAKEN FROM US AND THERE IS NOTHING WE CAN REALLY DO ABOUT HOW IT IS SPENT."
spoken like a true conserve sheeple
Compare:
"All the stimulus money that is flowing does not impact us in a VISIBLE form. Sure a needed bridge or road will get built, but even though it is taxpayers money, we don't associate it with actual money out of our pockets."
And Contrast:
"I keep hearing about how 90% of economists think the GST reduction was not the way to go. MY POCKETBOOK HEARS the extra money hitting it's bottom everyday."
Huntsy too cool! The economic stimulus is invisible but if you have a pocket book with ears, you'll somehow be able to hear the money you can't find in there with your eyes.
Hahahahahahahaha!
"If we must have stimulus spending, at least extend the home renovation credit, it is visible to everyone who looks at their new roof or bathroom."
Yeah, we'll be able to look at our new bathroom and say gee honey isn't it great we got 13% off of this toilet? It's just like that time they paid the taxes on our sofa at Bad Boy.
"What's so wonderful about the home renovation credit? Spend 10,000 just to get a piddly 1,300 off your income tax? Is that economic stimulus? I don't think so".
Are you really THAT bitter, mysterysissy? With this line of thinking I suppose you insist on paying full price when your favourite store has a sale, right?
Your hatred for the Conservative government is really ugly.
A 13% tax credit isn't enough for the lazy sloth like mysterysissy. Not only does mysterysissy and his/her/it's ilk want the government to pay the full freight, they expect the government to wipe thier bums and tuck them in at night to the tune of Kumbya.
Hey Esk, what's the current rate of unemployment in Canada?
"Not only does mysterysissy and his/her/it's ilk want the government to pay the full freight, they expect the government to wipe thier bums and tuck them in at night to the tune of Kumbya."
I said nothing of the kind. Suggest you re - read what I wrote.
BTW you have a chronic problem with the word their. The rule, (I know, I know it's different for conserves) is I before E except after C.
"Fatso might give you some money off your income taxes."
My gosh Mysty.....you really do live in the past don't you.
Of the $10,000 you spend on your reno how much do you think is material cost and how much is labour? How many roofs does the average unemployed auto worker or nuclear engineer have to fix before he starts making money this summer?
Alberta Girl, pocketing wafers is no way to diet.
And how many unemployed who will be refinancing their homes just to stay afloat will find any solace in a 13% home reno "tax break"?
The average annual single family home property tax in Toronto is something like $3473. How do you think a $10,000 home improvement will affect that figure?
And how does this help a senior that has no taxable income, but would like to fix their home? Or an apartment dweller?
maryT: EVERYONE knows what they pay GST on. Only a moron would think that there is GST only on big items. Define big -- a car or a 5 carat diamond?
Welcome back - glad you had a good vacation and enjoyed "my little slice of Heaven". Did you stop in Sidney or just wave as you bolted for the Ferry?
Doing a $ million 2 reno - do I qualify?
"Hey Esk, what's the current rate of unemployment in Canada?"
We're talking tax credits not unemployment. Apples and oranges, my little commie troll.
"The average annual single family home property tax in Toronto is something like $3473."
Take this matter up with Mayor Miller. You can always move to Alberta where my property taxes are half of that amount.
"I said nothing of the kind. Suggest you re - read what I wrote".
It's your track record that led me to that conclusion.
"BTW you have a chronic problem with the word their. The rule, (I know, I know it's different for conserves) is I before E except after C."
Look up two paragraphs: You put a space before and after the hyphen in the compund word "re-read". This is not required. Are you sure you want typos and punctuation to be the hill you want to die on, my little socialist soldier?
Since the advent of the internet, the indication that you are winning an arguement with a raving liberal troll is when they have nothing left than to critique your spelling and punctuation. That and to call you racist or call the Prime Minister a fatso.
No one likes a foot stamping whining sissy and mystery, you never seem to prove otherwise.
You must have spent a great deal of time as an adolesent being stuffed inside of gym lockers and digging wedgies out of your behind. I suppose you were the first to sign up for hallway monitor too.
Now run along now, I think I hear your Mom calling you upstairs for your morning Eggos.
"We're talking tax credits not unemployment. Apples and oranges, my little commie troll."
Think that one through Esk. Why is the stimulus package on offer?
"Take this matter up with Mayor Miller. You can always move to Alberta where my property taxes are half of that amount."
Ok Miller will then take it up with Dalton who'll then take it up with Fatso.
"It's your track record that led me to that conclusion."
My track record? I didn't know you cared:-]!!!!!
I've said before elsewhere and here too that typos happen.The way you spell "thier" is chronically wrong. I made a subtle joke about exceptions to rules. But you are so busy worrying about whatever "hill I should want to die on" you can't even recover. You have no composure, decorum or diplomacy. Certainly no grace.
"Since the advent of the internet, the indication that you are winning an arguement with a raving liberal troll is when they have nothing left than to critique your spelling and punctuation. That and to call you racist or call the Prime Minister a fatso."
"Arguement" with an e, as you have spelled it is another common mistake. But you won't "win" quibbling about that. You "lose" because you can't see through to the big picture, outside your own mind - the world that wants to know who called you a racist today. The world that thinks PMSH is fat.
Why don't you take a stab at defending the reno tax credit.I wonder if you can do it without telling me how I'd like to have my bum wiped by government and the way you think I behaved as a teenager. It's probably too much for you but here's hoping.
'Think that one through Esk. Why is the stimulus package on offer?'
Excuse me for jumping in Esk.
It was the lesser of 2 evils mystery,
the worst choice being the Coalition of Losers seizing government and sending our country into the depths of socialism aided by the separatists.
How about that McGuinty $10,000 gift from Ontario taxpayers, to buy a new electric car!!!!
Wow! Now that's gotta hurt.
The main effect of the reno tax credit that I have seen is that it gets mentioned in every ad for building supply places. Right now, the need is to get people spending, considering consumer spending is so critical to the economy. So giving businesses something to tout as an extra reason to spend sooner than later is good.
Very similar effect to the $10K electric car rebate announced today in Ontario. I doubt a lot of people will actually get it, but it creates buzz and gets people out looking and probably spending on something.
When consumers believe the economy is deflating, they tighten spending even more, assuming prices will fall further. We need to get people back to the thinking that things won't get cheaper, they'll go up if anything, so spend as usual.
My mother replaced her 25 year-old furnace and air conditioning systems. She is receiving a lot more back than $1,300 when she combines both federal and provincial credits. Stereo - $1,300 is better than nothing. And, according to the company which replaced her furnace and a/c, they are being run off their feet.
Sorry to disappoint you, but renovators are swamped, thanks to this stimulus effort on the part of both the federal and Ontario governments.
Stereo - we all know you dislike Harper but please don't try to criticize his government when your argument negates itself. What did Chretien ever do to help us out? Oh yes, he destroyed our health care system and robbed the EI fund to post a faux surplus. Wow, that sure made my life better.
"Hey Esk, what's the current rate of unemployment in Canada?"
Way, way, way, way, way lower than it was when Trudeau plunged us into economic ruin. I recall double-digit unemployment, inflation, and interest rates. I also recall a huge debt which he incurred and which we are still paying.
If you checked things out before ranting, you'd notice that Harper has made significant reductions in our national debt. That, Stereo, beats a faux surplus any day of the week.
"And how does this help a senior that has no taxable income, but would like to fix their home? Or an apartment dweller?"
I would hazard a guess and say that a senior who has no taxable income would not have a home - how the heck would he pay property taxes and utility bills? An apartment dweller? Uh, during my 20+ years as a tenant, I was not allowed to renovate my apartment. I could paint but if the colour was unsuitable for a new tenant, I would have to pay the landlord to cover it over. Fortunately, my taste in paint colour runs to pale beige or off-white so it was never a problem.
So much for your argument. Same thing I said to Stereo - if you can't make a valid argument, don't make one at all - your argument negated itself.
"If you checked things out before ranting, you'd notice that Harper has made significant reductions in our national debt."
Really?
The CTF says "Our federal debt is slated to grow by $3.9-billion in 2008-09, $50.2-billion in 2009-10 and will continue to grow for years to come."
"Stereo - we all know you dislike Harper but please don't try to criticize his government when your argument negates itself."
Let us review:
I asked if 13% off your reno is really much of an incentive. I suggested it will only be attractive to people without mortgages to pay down and certainly unattractive to people who have had to refinance their homes on account of unemployment. I suggested that some people will be reluctant to undertake renovations because it will impact property taxes that are already through the roof. What part of my argument negates itself?
SQ pointed out the reno is of little use to seniors as their savings start to dwindle. And he also pointed out the plan is useless to apartment dwellers. These are all valid points of criticism, not arguments that negate themselves. Maybe urban apartment dwellers will take Dalton up on his incentive though. If they can't get 13% a break on reno, maybe they'll just get rebates on their new electric cars!
The home reno tax credit may in fact not be helpful to many people. I don't think it was ever concieved nor touted as being the elixir for all of the economic woes of the country. It was offered up as a trickle-down type of program whereby Joe and Jane get a new furnace for thier house, Bubba & Sons furnace company gets busier, hires more staff, Bubba stops at Tim's every morning for coffee and donuts for the extra sheet metal dudes he's had to hire while the local Tim's hires a few extra part timers to cover the increasingly busier morning shift who then spend their extra tips at the Cineplex who've also hired more staff.....
But to the Mysterysissies and Southern Qweebs of the world, they pi$$ and moan about granny not being able to get a new furnace because she lives in an apartment and all the mouth breathers spend too much time idling thier SUV's in the lineup at the Tim's drive-thru and Stephen Harper is fat because David Miller need more in property taxes.....
Sorry to disappoint someone, but there are lots of seniors who own their own home and pay no taxes. As for the rennovations, we have to get a new roof on the garage and house, ordered by our insurance company. Got a letter saying if roof not replaced by 2010insurance will be cancelled. So, what do we and hundreds of others do.
With 4 sons in the trades, they are all busier than ever. We have to wait 3 months before our roof can be done.
In Alberta there is a program called, Special needs for seniors. It covers roofs, some appliances, windows, doors, accessability, and lots of other things. 15,000. lifetime grant.
I am writing my MP re the tax credit, and suggesting that it could be transferred to other family members, like the disability deduction or tuition deductions.
Too many people assume that if you don't pay taxes you must be poor. Wrong, there is a big difference in gross income, net income and taxable income.
To all those complaining about this renovation credit, how many of you have kids born after 1991. Did you refuse to take the 2000. credit for each of them on your 2008 tax return, didn't think so.
Re paying gst on only big items. Go back and read all the stories and comments when the reductions were first made. That was the theme of most of them, only those buying homes, cars, plasma tvs etc would benefit.
Mystereeoso, guess you were lonely while I was on holidays, 14 out of 28 comments or 50% of the comments are yours.
Get your own blog, your obsession with mine is kind of creepy.
MaryT is right, as a home owner, you need to keep up your property, so a refund from the government helps with upgrades you were going to have to do anyways. Too bad we put in our new energy efficient furnace last year, I could have used the tax credit.
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