home improvements: Changes Proposed for HST on New Housing - 07/09/09 11:55 AM
The provincial government has announced some proposed changes to the way it would apply the proposed Harmonized Sales Tax (HST) to the purchase price of newly constructed housing. The provincial government has also announced proposed transitional details for newly constructed properties.BackgroundThe provincial government has announced that it intends to combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13 percent Harmonized Sales Tax (HST).
ยท The HST is NOT YET IN EFFECT. The provincial government has indicated that it intends to bring the HST into effect beginning on July 1, 2010.
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home improvements: Budget recognizes economic importance of housing to stimulate the economy - 03/07/09 04:18 AM
Home Renovation Tax Credit
The proposed Home Renovation Tax Credit (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. 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.
For more information on all of the home ownership and housing related stimulus in Budget 2009, go to http://www.budget.gc.ca/2009/plan/bpa5a-eng.asp#Personal or to the Canada Revenue Agency Web site at … (0 comments)

home improvements: Financial assistance is available to fund repairs, renovations - 09/22/08 02:26 PM
CMHC Financial assistance takes the form of loans, forgivable loans or non-repayable contributions, and can be used to fund repairs, renovations, accessibility modifications, the creation of low-income rental units, and home adaptations. Programs are available for low-income households, seniors, and persons with disabilities.
For more details, check CMHC website at
http://www.cmhc-schl.gc.ca/en/co/prfinas/index.cfm
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home improvements: Investment in home improvement, key in competitive housing market - 09/17/08 03:38 AM
Mississauga, ON (September 17, 2008) - An increasingly competitive housing environment is prompting a significant number of Ontario homeowners to invest in renovation before their homes for sale, according to a recent survey by RE/MAX Ontario-Atlantic Canada.
The RE/MAX Survey of Home Buying and Selling Trends in Ontario, conducted by COMPAS Research, in the first half of 2008 found 79 per cent of sellers said they made improvements to their homes two years prior to and more than one third (39 per cent) of them did so with selling in mind. Further indicative of how sophisticated sellers and buyers are becoming, … (0 comments)