$30-M rebate for renovations, new home construction

A rebate on home renovations and construction from the provincial government seeks to boost the economy during the COVID-19 pandemic.

On Wednesday, the province announced a 25 per cent discount for home renovation projects, up to a maximum of $10,000.

For new home construction, a $10,000 rebate is available for homes valued at $350,000 before HST.

The rebates will cost the province $30 million, which comes from the $200-million contingency fund announced by the government at the beginning of the pandemic.

The program relates to work on a primary residence contracted within 60 days of the province entering Alert

Level 3 of the ongoing public health emergency. The projects must be mostly finished by March 31, 2021. An eligible contractor registered with the government and with liability insurance must be contracted for the projects.

“This rebate is intended to stimulate the economy and help create employment through new home construction and renovation,” Finance Minister Tom Osborne said

Wednesday.

Curtis Mercer, interim CEO of the Canadian Home Builders Association of Newfoundland and Labrador, says contractors and plumbers will have to take precautions to avoid the spread of COVID19.

“As of Alert Level 3, there will be an update on what is allowed, but all contractors will have to follow those rules and protocols put forward by the chief medical officer and her office,” Mercer said.

“Social distancing is still going to be required, (and) hand-washing and cleanliness as per those orders. There is additional information going out to contractors through our association and government over the next couple of days on protocols they must have in place to enter a homeowner’s home.”