(Source: The Toronto Star)
If you give them a tax credit, they will build.
That seems to be case with homeowners and the Home Renovation Tax Credit (HRTC), which the federal government introduced earlier this year.
According to a recent survey released by residential mortgage company ResMor Trust Company, 94 per cent of Canadian homeowners who participated in the survey and who are planning to do renovations between now and Feb. 1, 2010 will use the renovation tax credit.
Read the full article “Reno tax credit spurring renovation” in the Toronto Star (May 15 2009).