WRLA reports positive moves by Saskatchewan and feds
December 4, 2020 By Western Retail Lumber Association
Earlier this year, WRLA invested in an economic impact study to justify a Home Renovation Tax Credit (HRTC) as a strategy to support economic recovery. The Saskatchewan government took this information as the basis to build the program recently announced. The WRLA is thrilled for our members at this outcome. The program runs retroactively from October 1, 2020 to December 31, 2022. We will continue to advocate in the other provinces for an HRTC, so stay tuned!
Full details of the HRTC program are accessible here. To access the Economic Impact Report, click here .
What’s happening federally?
The Federal Government, as part of its Fall Economic Statement 2020, announced an energy retrofit program this past week as well. The WRLA, in addition to several partnering stakeholders, advocated for an eco-retrofit programs either in the form of tax credits or grants. The 2016 Census identified 4.5 million dwellings that require minor or major repairs. We are pleased to see that the federal government listened to recommendations from the industry and its partners and will support economic recovery while taking action towards climate strategy.
The proposed program will provide $2.6 billion over seven years to help homeowners make energy-efficient improvements to their homes. To review the Fall Economic Statement 2020 click here. We will provide more details as they become available.
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