An economist suggests there’s not much to worry about.
Toronto Dominion Bank chief economist Don Drummond, a former federal Finance Department official, said an election would create some “uncomfortable” uncertainty regarding the program. However, he says as long as the measure is ultimately approved by Parliament before the 2010 tax filing season, the credit would not be affected.
“If I was the Commissioner [of the Canada Revenue Agency], I would just stay cool and leave it in limbo,” Mr. Drummond said. “People won’t be filing until February, March and April of 2010 anyhow. So I’d probably just say ‘Hey, I’m waiting to see what happens before the end of the year.’ ”
FILED UNDER: Canada Revenue Agency don drummond home renovation tax credit