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UPDATE 1-Canada Conservatives to bring back home renovation credit

Published 2015-08-04, 12:00 p/m
© Reuters. UPDATE 1-Canada Conservatives to bring back home renovation credit

(Adds details on the credit, remarks on not putting additional
taxes on energy, paragraphs 3-5)
OTTAWA, Aug 4 (Reuters) - Canadian Prime Minster Stephen
Harper, running for reelection in October, said on Tuesday he
would refrain from applying fresh taxes on the embattled energy
sector and promised to bring back a popular home renovation tax
credit.
About one in three households took advantage of the
temporary credit, introduced in 2009 to combat an economic
downturn, saving on average more than C$700 ($535) each, a
statement from Harper's Conservative Party said.
The government would make a permanent tax credit for annual
home renovation expenses between C$1,000 and C$5,000. A
Conservative spokesman said it would be brought in the 2016-17
fiscal year at a cost of C$1.5 billion a year.
Harper, taking aim at opponents' plans to put a price on
carbon to fight global warming, also said it would be
inappropriate to apply additional taxes on energy at a time when
the energy sector is struggling due to low prices.
"I think that most Canadians understand that when you get a
downturn in a sector, you don't turn around and raise taxes on
the sector," he told reporters during a campaign stop in
Toronto, ahead of the Oct. 19 federal election.
($1=$1.31 Canadian)

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