New tax credit will allow Canadians to save up to $3,800 on green home renovations
Conservative Leader Andrew Scheer was at Potvin & Bouchard today, highlighting the Conservatives’ proposed Green Home Renovation Tax Credit, a two-year program to encourage homeowners to renovate their homes in ways that lower their power bills and reduce greenhouse gas emissions.
Canadians will be eligible to receive a 20% refundable credit on their income tax for green improvements to their homes of over $1,000 and up to $20,000. This would allow Canadians to save up to $3,800 on their renovations each year.
Eligible renovations would include:
- Installation of high-quality insulation
- Investments in high-efficiency furnaces
- Replacement of doors and windows with more efficient models
- Upgrading of ventilation, heating and cooling systems
- Installation of solar panels
In 2017, emissions from buildings represented 12% of Canada’s overall emissions.
“No environmental plan is complete without a serious plan to tackle emissions from buildings,” Scheer said. “Our Green Home Renovation Tax Credit will help lower these emissions and fight climate change while putting more money in Canadians’ pockets so they can get ahead.”
This measure is one of the 55 policies of our environmental plan, A Real Plan to Protect Our Environment, introduced earlier this year. It is a realistic plan that balances Canada’s obligation to fight climate change with the core Conservative promise to put more money in Canadians’ pockets so they can get ahead.
- Justin Trudeau’s signature so-called environmental policy is, in reality, not an environmental policy at all. His Carbon Tax gives big polluters a pass while punishing Canadians for driving to work and heating their homes.
- Canadian families and small businesses pay 92% of Trudeau’s Carbon Tax, while big polluters are only on the hook for 8%.
- Justin Trudeau and his environment minister have confirmed that a carbon tax hike is on the table, and the Conservative Party conducted research to determine just how much it would cost the average Canadian household. At the $102/ tonne level, Trudeau’s Carbon Tax would
- Increase the cost of natural gas by $469 per year
- Add 31 cents/litre to the price of gasoline.
- This means $2/litre gasoline is just around the corner if the Trudeau Liberals are re-elected. It is Canadians who bear the cost of Justin Trudeau’s Carbon Tax.
- In Ontario, the five-fold increase to the carbon tax would cost you $1,151.
- In New Brunswick, the five-fold increase to the carbon tax would cost you $959.
- In Manitoba, the five-fold increase to the carbon tax would cost you $1,116.
- In Saskatchewan, the five-fold increase to the carbon tax would cost you $1,930.
- In Alberta, the five-fold increase to the carbon tax would cost you $2,002.
Andrew Scheer’s Plan for you to get ahead:
- Scrap the Trudeau Carbon Tax, lowering the cost of everyday essentials like gas, groceries, and home heating.
- Introduce the Universal Tax Cut, saving an average couple $850 per year.
- Take the GST off home heating costs, saving your family $107 every year.
- Introduce the Green Public Transit Tax Credit, saving a family of four who take transit up to $1,000.
- Make maternity benefits tax-free, putting up to $4,000 back in the pockets of new parents.
- Introduce the Children’s Fitness Tax Credit, allowing parents to claim up to $1,000 for sports activities.
- Introduce the Children’s Arts and Learning Tax Credit, letting parents claim up to $500 for arts and learning programs.
- Expand the Age Credit, benefiting the lowest income Canadians the most and giving a senior couple up to $300.
- Boost the RESP matching by 50%, helping parents get more for their kids education.