MONTREAL, Feb. 19 /CNW Telbec/ - The Honourable Jean-Pierre Blackburn,
Minister of National Revenue, visited the construction site of new homes in
Montréal today to highlight various tax measures announced in the 2009 budget,
Canada's Economic Action Plan. The Government of Canada wants to help
Canadians and stimulate the construction industry during these difficult
"The tax reductions proposed by the Government of Canada are aimed at
stimulating the economy and helping to lay a solid foundation for future
economic growth, job creation and an improved quality of life for Canadians,"
stated Minister Blackburn. "They are also an important source of economic
activity in Canada as they promote more demand for building material, which
will help support the forestry sector."
"We have committed to not only reducing corporate and personal income
taxes by as much as $20 billion over five years, but have also committed to
improving access to financing that Canadians need to invest, grow and create
jobs," explained Minister Blackburn.
The government is proposing a tax credit on the purchase of a qualifying
home, which would allow first-time home buyers, buying after January 27, 2009,
to receive a non-refundable tax credit based on an amount of $5,000. The
individual or the individual's spouse or common-law partner can claim the
credit, or they can share it. However, the total amount claimed must not
In addition, the Home Buyers' Plan allows you to withdraw funds from your
registered retirement savings plan to purchase or build a qualifying home for
yourself or for a related person with a disability. For 2009 and subsequent
years, Canada's Economic Action Plan proposes to increase from $20,000 to
$25,000 the maximum amount for withdrawals made after January 27, 2009.
The Home Renovation Tax Credit is a non-refundable tax credit for work
performed or assets acquired after January 27, 2009 and before February 1,
2010 for qualifying housing. For more information on this credit and other
programs available to stimulate the economy, go to
To raise Canadians' awareness of the tax measures that they may benefit
from in their 2008 income tax return, the Canada Revenue Agency (CRA) has
developed an advertising campaign entitled "You've earned it. Claim it.". The
CRA offers specific information regarding these tax measures to child and
family tax benefits recipients, to persons with disabilities, seniors,
students and tradespersons to better meet their tax needs. Articles, tax tips
and audio and video files are also available at www.canada.gc.ca/infotax.
For further information:
For further information: media: Noel Carisse, Media Relations, Canada
Revenue Agency, (613) 952-9184; Andrea Kent, Acting Director of
Communications, Office of the Minister of National Revenue, (613) 995-2960