Tax credit a success, no matter who pockets cash

News Nov 06, 2009 Ancaster News

Re: Where do the tax credits and rebates go?, Tales from the Crypt, Oct. 30, The News.

Managing editor Mark Cripps states, "I believe the Harper government brought in the Home Renovation Tax Credit as a measure to battle the underground economy.”

To my understanding, this was not the true intent. The HRTC is an initiative to stimulate overall construction in the midst of a deepening depressed economy. With new home building falling to unprecedented levels and a growing unemployment rate, combined with a general consumer fear of making home repairs, the decision was made in an attempt to revive consumer confidence.

And, so far, I believe it is proving to be a success, no matter who pockets the cash.

Frank L. Gallo, Ancaster

Tax credit a success, no matter who pockets cash

News Nov 06, 2009 Ancaster News

Re: Where do the tax credits and rebates go?, Tales from the Crypt, Oct. 30, The News.

Managing editor Mark Cripps states, "I believe the Harper government brought in the Home Renovation Tax Credit as a measure to battle the underground economy.”

To my understanding, this was not the true intent. The HRTC is an initiative to stimulate overall construction in the midst of a deepening depressed economy. With new home building falling to unprecedented levels and a growing unemployment rate, combined with a general consumer fear of making home repairs, the decision was made in an attempt to revive consumer confidence.

And, so far, I believe it is proving to be a success, no matter who pockets the cash.

Frank L. Gallo, Ancaster

Tax credit a success, no matter who pockets cash

News Nov 06, 2009 Ancaster News

Re: Where do the tax credits and rebates go?, Tales from the Crypt, Oct. 30, The News.

Managing editor Mark Cripps states, "I believe the Harper government brought in the Home Renovation Tax Credit as a measure to battle the underground economy.”

To my understanding, this was not the true intent. The HRTC is an initiative to stimulate overall construction in the midst of a deepening depressed economy. With new home building falling to unprecedented levels and a growing unemployment rate, combined with a general consumer fear of making home repairs, the decision was made in an attempt to revive consumer confidence.

And, so far, I believe it is proving to be a success, no matter who pockets the cash.

Frank L. Gallo, Ancaster