Tory Budget - what do think?

[Tantor]

I think it is fairly good. I'm glad that the liberal's are on board and want to have fiscal updates so they follow through.

DH likes the home reno tax rebate. We are always doing reno's around here!!

What do you think????

[Tantor]

anyone!!

[CdnKayDee]

I feel a little "sorry" for my husband and I. We made a purchase for a dishwasher a couple of weeks ago. I was excited thinking that we get the tax credit because it was a purchase over $1,000 but then I read it had to be purchased after Jan 27. Just like us to just miss something.

[TheZue]

I'm just not happy to be going back into defeciet :sad2:

[SydneyFalco]

It's a budget alright.

[ferris198]

I feel a little "sorry" for my husband and I. We made a purchase for a dishwasher a couple of weeks ago. I was excited thinking that we get the tax credit because it was a purchase over $1,000 but then I read it had to be purchased after Jan 27. Just like us to just miss something.

According to what I read, appliances aren't eligable for the new credit, only renos.

[mousy_in_canada]

According to what I read, appliances aren't eligable for the new credit, only renos.

Can you link me to the info on this tax credit. Thanks!

[Tantor]

According to what I read, appliances aren't eligable for the new credit, only renos.

I read that they were. A lot of the info is still vague though.:confused3

[ferris198]

Here is the link from the government website.

http://www.budget.gc.ca/2009/pamphlet-depliant/pamphlet-depliant3-eng.asp

Examples of HRTC Eligible and Ineligible Expenditures
Eligible

Renovating a kitchen, bathroom, or basement
New carpet or hardwood floors
Building an addition, deck, fence or retaining wall
A new furnace or water heater
Painting the interior or exterior of a house
Resurfacing a driveway
Laying new sod

Ineligible

Furniture and appliances (refrigerator, stove, couch)
Purchase of tools
Carpet cleaning
Maintenance contracts (furnace cleaning, snow removal, lawn care, pool cleaning, etc.)

[Sillyminny40]

Just no more elections.....please!

[candielips]

Here is the link from the government website.

http://www.budget.gc.ca/2009/pamphlet-depliant/pamphlet-depliant3-eng.asp

Examples of HRTC Eligible and Ineligible Expenditures
Eligible

Renovating a kitchen, bathroom, or basement
New carpet or hardwood floors
Building an addition, deck, fence or retaining wall
A new furnace or water heater
Painting the interior or exterior of a house
Resurfacing a driveway
Laying new sod

Ineligible

Furniture and appliances (refrigerator, stove, couch)
Purchase of tools
Carpet cleaning
Maintenance contracts (furnace cleaning, snow removal, lawn care, pool cleaning, etc.)

Do you know how many of those eligible items me and my DH want to do to our house? Too many! I would love to think I could win & we would do hardwood floors but I just know he is going to push the deck :sad:

[roscoepc1]

Hmmm...we put a new furnace in in December, but haven't been billed for it yet (small town, lol)...do you think it would qualify? The bill will obviously be dated after Jan 27th....

[bbangel]

Spending more than you make is not a budget. We worked for years to get out of this position because it is NOT a good one. To go back in when we don't have to is ridiculous. The only redeming factor in the Conservative government was that they were fiscally conservative. So much for that. Thanks for selling my future for a bit of political power.

[TheZue]

Spending more than you make is not a budget. We worked for years to get out of this position because it is NOT a good one. To go back in when we don't have to is ridiculous. The only redeming factor in the Conservative government was that they were fiscally conservative. So much for that. Thanks for selling my future for a bit of political power.

I agree 100% I'd like to know why we are getting a tax cut right now. I would gladly give back my $400 to ensure that we don't have to go through as much cost cutting later.

[MkyMws]

We missed the reno tax refund by a few months.

We built a deck in Oct. The reno tax break wouldn't ecourage me to say "hey let's build a deck or do something." It's 15% after you spend $1,000.00, no 15% on the 1st $1,000.00 only after hat (at least that is what I understand).

If we were planning on building or renovating it would be an added, but it won't make me run out & start a project.

The budget had to do something to stimulate the economy...I hope it works.

tim

[ferris198]

What 400.00 are you getting?

[TheZue]

that's the amount the average family will save in tax cuts that are retroactive to the beginning of the year.

[damo]

Our economy cannot be stimulated in the short term by government spending. Until the US economy turns around, ours isn't going to do anything.

[candielips]

We missed the reno tax refund by a few months.

We built a deck in Oct. The reno tax break wouldn't ecourage me to say "hey let's build a deck or do something." It's 15% after you spend $1,000.00, no 15% on the 1st $1,000.00 only after hat (at least that is what I understand).

If we were planning on building or renovating it would be an added, but it won't make me run out & start a project.

The budget had to do something to stimulate the economy...I hope it works.

tim

I just went back to the website & that is totally what the tax credit is. I was totally misinformed about it. I thought you could claim up to $1350 not 15% exceeding $1000 to a maximum of $10,000, putting the maximum tax credit at $1350 but you would have to spend $10,000 to be eligible for the maximum.
Well I guess that doesn't apply to us anymore since our house is not even 3 years old.

[Debbie]

Just no more elections.....please!

I agree 100%! ::yes::

Oh, and we put new flooring in our kitchen....on January 22. Cr@p! :mad:

[mousy_in_canada]

that's the amount the average family will save in tax cuts that are retroactive to the beginning of the year.

Is that tax cut going to be on our income taxes or on our weekly pay?

mousy