Hammering home a tax saving

There's plenty of activity at Rory Turner's residence.
The 27-year-old Moose Javian is nailing up walls, laying down hardwood flooring and conducting various other renovations inside his home.
"It's quite a bit. This is a couple-year project," he told the Times-Herald. With all the money he's pumping into improving his living space, Turner was pleased to hear renovators could get some cash back via a new federal government program announced during Tuesday's budget speech.
If approved by a majority of MPs, the federal Conservatives plan to dedicate $7.8 billion towards social housing and private home renovation, including a one-year home renovation tax credit for up to $1,350 per household.
"I think the tax credit is awesome. But would I do anymore (renovations)? Probably not," said Turner. The credit might be a good incentive for homeowners who aren't able to move to a larger home due to high real estate rates, so they can improve the properties they already have, he said.
Ken Roney, Westrum Lumber owner/manager, suspects the incentive could increase sales at his local supply store, although the impact is uncertain since the rebate only supplies 15 per cent of a $9,000 investment.
He added his company isn't at risk of running short on material if there is a local surge in home renovations. Westrum's business is a little slow at the moment, according to Roney, because the past few weeks of cold have reduced the outdoor work people do on their homes.
Brent Walker, local General Paint manager, said winter typically isn't a busy time of year for him either. Once summer hits, more homeowners tend to get out and paint their properties.
However, Walker said he might not experience too much extra business due to the government's proposed incentive because painting is typically not that expensive and is done at the end of a construction project, when homeowners likely will have spent over the credit limit anyway.
He added small paint jobs might technically qualify for renovation tax credits, but the amount of money homeowners would get back through the credit might be so minor, they wouldn't want to bother with the paperwork.
Moose Jaw's Keith Dutchak, who is currently renovating his basement, said a little money back from the feds for all his efforts would definitely be nice.