Recently we have noticed a rise in people putting off doing a new kitchen or renovation until they know what is happening with the Covid-19 virus, but you might want to get your new kitchen before the tax hike gets here...  If you have been thinking about doing a renovation, now would be the time to do it...  Although it hasn't been announced yet, a tax hike is all but guaranteed coming out of this pandemic.  

 

  The federal government’s fiscal response to COVID-19 dwarfs anything seen outside wartime. Wage subsidies to employers, emergency benefits to individuals, enhanced sales tax and child credits, partially forgivable loans to businesses, and so on. All together, direct support so far exceeds $150 Billion!  Combined with lower revenues from the COVID-induced recession, the federal deficit is on track to be $260 billion this year,according to the Parliamentary Budget Officer.  It’s nearly five times larger than the $56 billion deficit during the financial crisis in 2009. It surpasses the combined total of every deficit between 2008 and 2019. And at 13 per cent of the economy, it’s larger than any prior Canadian deficit outside of World War 2!...

  Cuts to general services could be just the start of things to come but we could also see PST, GST or even CST (“COVID Sales Tax”) with a tax increase of up to 1.5% or more?...  It may not sound like much but that could cost you hundreds to even thousands of dollars depending on your renovations.  I'm not trying to scare you, I'm just trying to let your know what delaying your inevitable renovation could end up costing you.  If your renovation isn't needed or you're a high risk candidate for the Virus then please don't rush your renovation.  Move forward when you feel comfortable.  But if you can't stand the sight of your kitchen, bathroom, laundry room, entertainment center, or home office and you feel comfortable moving ahead with your renovation, then now is the time to act.

                   

           

Reasons to get started on that Reno:

• After being quarantined with your current kitchen, you have finally realized how much you hate it...
• The thought of possibly being quarantined again with that same kitchen, makes you want to pull your hair out...
• Save hundreds, even thousands on taxes...
• You aren't taking a vacation anytime soon, so you might as well put that money to good use...
• You wanted that renovation before all this madness broke out, so why not do it now...
• We are all spending more time in our homes now so we may as well make our houses the best they can be...

  With all of the recent government spending due to the Covid-19 outbreak, it is only a matter of time before there is a significant jump in GST payments or a sales tax implemented...  Sorry to be the bearer of bad news...  But you can avoid those extra GST payments on your new kitchen or renovations if you act soon!  Come in and talk with one of our designers and lets get you that dream kitchen that you deserve.

 

Josh Pressey

Ekko Custom Kitchen Cabinetry and Design of Calgary

32 – 4th Street N.E.

Calgary, Alberta T2E 3R7

(403) 263-3556

Email us at : info@ekkocabinetry.com

Please visit our website at : www.ekkocabinetry.com