Retailer wants renovation tax credit extended
Last Updated: Tuesday, December 29, 2009 | 10:45 AM ET
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A New Brunswick building supplies retailer would like to see an extension of the federal government's home renovation tax credit because it has been so good for business
John Jarvis, owner of a Home Hardware store in Grand Bay-Westfield, says his sales jumped 10 per cent in the months leading up to Christmas because of the tax credit.
Extending the offer would help both homeowners and store owners, he said Monday.
"I think I probably speak for a lot of other building supply or hardware retailers. With the incentive, I think a lot of people are taking advantage of it. ... They're trying to improve everybody's homes, so why not give them maybe another six months or a year to do that?" Jarvis said.
"Maybe some people don't have the income at a certain time period."
The tax credit applies to eligible expenses of more than $1,000, but not more than $10,000, resulting in a maximum non-refundable tax credit of $1,350. The 15 per cent credit was designed as part of the government's economic stimulus package and came into effect Jan. 27, 2009.
People have until Feb. 1, 2010, to buy renovation materials under the program.
Prime Minister Stephen Harper recently hinted that he might include the tax break in the spring budget.
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