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September 14, 2009
Government of Canada Moves to Implement Home Renovation Tax Credit and Other Outstanding Measures
Ottawa, September 14, 2009 - The Honourable Jim Flaherty, Minister of Finance, today tabled in the House of Commons a detailed Notice of Ways and Means Motion to implement the Home Renovation Tax Credit as well as other measures, several of which are outstanding from Budget 2009. “These measures are important to sustaining Canada’s economic recovery,” said Minister Flaherty. “For example, the Home Renovation Tax Credit is encouraging millions of Canadians to invest in the long-term value of their homes, and has increased the demand for labour, building materials and other goods and services—creating jobs and stimulating our economy. It is important that these measures be implemented quickly.” In addition to the Home Renovation Tax Credit, the Motion: - Implements the First-Time Home Buyers’ Tax Credit.
- Enhances the benefits provided under the Working Income Tax Benefit.
- Extends the existing tax deferral available to farmers in prescribed drought regions to farmers who dispose of breeding livestock because of flood or excessive moisture, and describes the regions prescribed either as eligible flood or drought regions from 2007 to 2009.
- Amends the Customs Tariff to relax the conditions relating to temporarily imported shipping containers.
More information on these and other measures can be obtained by visiting the Department of Finance website or by phoning 1‑800‑O‑Canada (1-800-622-6232) or 1-800-926-9105 (TTY for the speech and hearing impaired/deaf).
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