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Tax credit spurs home-improvement rush

BY Nicole Million February 08, 2010 17:02

MIDLAND – Midland-area home-improvement stores saw a few extra customers as homeowners scrambled to beat the Jan. 31 deadline for the federal government’s home renovation tax credit (HRTC).
The credit applied to expenditures for work performed or goods acquired between Jan. 27, 2009, and Feb. 1, 2010. The goal was to provide an incentive for Canadians to undertake new renovations or accelerate planned projects.
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.
Tammy Walker, assistant store manager at Home Depot, said business was busier than usual in the Midland store on the weekend leading up to the Jan. 31 deadline.
“Home Depot in general kept the stores open until about 10 p.m. on the Saturday and the Sunday,” she said. “It was definitely a busier weekend than an average weekend.”
Walker said it seemed people were “definitely taking advantage” before the HRTC window closed.
The store was prepared for the influx of customers, and added staff to make sure they could keep up.
“It was very, very busy. It was good,” she said, adding many customers likely took on projects solely due to the tax credit. “There was definitely an interest in it.”
Eligible projects included kitchen, bathroom and basement renovations, new carpet or flooring, additions, decks, fences and retaining walls, new furnaces and water heaters, paint jobs, driveway resurfacing, and laying new sod.
About 4.6 million families in Canada were expected to benefit from the credit, which can be claimed when they file their 2009 tax return.
Midland’s Rona store was also busier than normal, noted administrator Gabriela Bailey.
“We weren’t open extra hours and had our regular staff on, but we were definitely busier than we have been over the winter time,” she said, adding she noticed many customers opted to take on projects in order to take advantage of the credit.
“We had a program out, which we called the Rona Advantage Program, which was basically alongside with the government. If you spent up to $10,000, you could’ve (received) $1,000 worth of Rona gift certificates back.”
The number of Canadians who will take advantage of the HRTC won't be known until they file their 2009 tax returns, according to Caitlin Workman at the Canada Revenue Agency.
However, more than four million Canadians consulted the HRTC website or called with questions about the program.

– With files from Torstar News Service

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