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Resolve to Restore Reno Tax Credit

The Federation of Canadian Municipalities (FCM) holds the Annual Conference and Trade Show this week from June 5 – 8 in Edmonton.

Municipalities from across Canada meet to discuss issues with federal representatives.

The agenda includes a Resolutions Plenary, so we suggest the following resolution for local officials:

Canadian Home Renovation Tax Credit

Whereas CMHC studies show renovations reduce air changes from 10 – 20 per hour to 3.5 and are the most affordable way to increase energy efficiency and reduce GHG’s in Canada’s housing stock; and

Whereas renovation tax credits promote homeowner health and safety by encouraging the use of professional contractors for abatement of asbestos found in insulation, stucco, drywall mud, roof shingles, floor tiles, electrical wires, cement; and

Whereas renovation tax credits generate tax revenue by encouraging homeowners to require receipts, helping to battle Canada’s underground economy, estimated by CRA at $35 billion, of which 29% is illegal construction activity; and

Whereas residential construction offers young people the opportunity to learn important skilled trades of which there is an impending shortage; and

Whereas residential construction creates significant local employment in every community across Canada;

Therefore be it resolved the Government of Canada restore the Home Renovation Tax Credit promoting affordable energy efficiency in older homes, health and safety for homeowners, and skilled jobs in every community across Canada, while helping discourage the underground economy.

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