The Federal Tax Credits Blog

Posts Tagged ‘hrtc’

Hardwoods Distribution Income Fund Announces 2009 Fourth Quarter and Year-End Results

Hardwoods Distribution Income Fund today reported financial results for the three months and 12 months ended December 31, 2009. The Fund’s results are based on the performance of Hardwoods Specialty Products LP and Hardwoods Specialty Products USLP – one of North America’s largest wholesale distributors of hardwood lumber and related sheet good products.

Davos Annual Meeting 2010 – A Roadmap for a Sustainable Recovery

Question: Home Renovation Tax Credit?

Who can take advantage of new HRTC? What is the deadline? If I live in a condo am I still eligible?

Answer: Even if live in a condo, you can take advantage of HRTC. Ask your menagement for a receipt. You are paying a maintenance fees every month and part of this goes to some improvements and renovations of the building.

In response to jlf:

The credit can be claimed on eligible expenditures incurred on one or more of an individual’s eligible dwellings. Properties eligible for the HRTC include houses, cottages and condominium units that are owned for personal use.
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

The home renovation tax credit in the Jan. 27 budget applies to condominiums and even to eligible work undertaken by condo corporations.
In a typical condo arrangement, each condo-unit owner pays a monthly maintenance fee, which typically goes into the condo corporation’s general or reserve fund, from which the condo corporation would pay contractors’ renovation bills on behalf of the unit owners.
However, the credit is only available to individuals, not corporations, so, the condo corporation is not entitled to the credit. Instead, the draft legislation provides that a condo owner can claim the credit for qualifying renovations made on his or her own unit, as well as for his or her share of renovations of the common areas made by the condo corporation.
Check the CRA website for the documentation requirements to support claims for renovations made to the common areas of a condo building.

Track spending to avoid being house poor

Mounting debts and unfinished projects are par for the course these days and HGTV’s new House Poor (Mondays, 9 p.m.) is taking a cue from the times to help homeowners revamp their finances and complete necessary renovations.

Holmes Inspection Intro Theme Episode

Question: does getting your drive way paved count for the home renovation tax credit?

I want to get my drive way paved and want to know if that counts for a tax credit refund of up to $1300 in Ontario?

Answer: Im not sure, but remember there is 1000 deductible, so you can only claim 300

The Jean Coutu Group-Third Quarter Fiscal Year 2010 Results

LONGUEUIL, QUEBEC–(Marketwire – Jan. 8, 2010) – The Jean Coutu Group (PJC) Inc. (TSX:PJC.A) – Reports operating income before amortization (“OIBA”) of $71.5 million for the third quarter, an increase of 19.0% compared with the third quarter of fiscal year 2009. – Net earnings per share amounted to $0.19 compared with a net loss per share of $1.66 during the third quarter of fiscal year 2009 …

Toronto Home Tax Credit 2009

Today, more than ever before, document management software is a must for most organizations. The Ontario law enforcement agencies are using a document management process that simplifies e-disclosure and converts homicide case documents into digital format.

The Ontario Homicide Investigators Association (OHIA), which is comprised of a couple dozen local police services and government law enforcement agencies across the province, have standardized on document imaging format to manage and distribute case information to prosecutors, defense attorneys, and other applicable court staff. “The average case can be anywhere from 30,000 to 50,000 pages,” Ian Grant, detective inspector with the Ontario Provincial Police’s (O.P.P.) organized crime enforcement bureau, said. Hard copy documents can be difficult to cart into court and also take a lot of staff time, effort, and money to compile. Document imaging helps a great deal in moving toward a completely electronic system where no paper is required. Anything seized in paper format are scanned to allow officers to tag photographs, attach had written notes, black out sensitive, privacy-protected information in the document imaging.
 
While many cases are still using paper documents, document management is growing at a rapid pace. The courts have made it an acceptable method to carry out case management as long as it’s organized, contained in one spot, easy to use for the officers and legal professionals involved and, most importantly, readily searchable. Law enforcement agencies, have found that document management creates a much more efficient and effective work environment.

Laserfiche creates simple, elegant document management solutions that help organizations operate more effectively and run smarter.

HST Could Be a Boon to Underground Economy

Fears that the Harmonized Sales Tax will boost the underground economy are already being borne out.

Flaherty announces $34 billion deficit, prepared for more