Harper pledges to re-introduce home renovation tax credit + MORE Aug 5th

Stephen Harper has delivered the first big-budget promise of the Conservative election campaign: a permanent home renovation tax credit that will cost taxpayers $1.5 billion a year once implemented.
However, Harper says the credit — a more modest version of a temporary credit the government first introduced in 2009 — won’t be introduced until economic circumstances permit, perhaps the middle of a Tory mandate.
While the original credit applied to renovation costs of up to $10,000, the ceiling for the permanent credit has been lowered to $5,000.
Trudeau vs. Harper: Who has the better tax plan for you? »
Speaking at a campaign event in Toronto, Harper says the credit, which would apply to renovation work done on houses, cottages and condominiums owned for personal use, would also help to create jobs in the construction sector. He says it would also pump billions of dollars back into the Canadian economy.
Some three million Canadians have taken advantage of the opportunity to make renovations in the last six years…

The economy may be sunnier, but people with less-than-perfect credit are still getting a chilly reception from credit card issuers

BUCHAREST, Romania – A Romanian court has rejected an appeal by the general manager and six executives of a subsidiary of Russian oil company Lukoil who have been indicted on tax evasion and money laundering charges.
The Court of Appeal in Ploiesti dismissed the appeal made by general manager Andrey Bogdanov, a Russian citizen, and six Romanian and Russian managers at the Petrotel Lukoil refinery against their indictment. The decision was published Wednesday.
Prosecutors, who are investigating 39 companies as being vehicles for money laundering and tax evasion worth 1.77 billion euros ($1.95 billion), said Monday the managers allegedly misused the company’s credit and capital.
Petrotel Lukoil’s press department couldn’t immediately be reached for comment.
Prosecutors said in an indictment that the refinery’s managers had exported oil at sub-market prices, mainly to Lukoil companies abroad, causing losses of 410 million lei (euros 93 million, $102 million ) from 2011 to 2014 …

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Tap for the latest from Maclean’s on the 2015 campaign

TORONTO – Call political leaders what you will — especially when they interrupt summer vacation — but the debate Tuesday seemed all about what they call each other.
Justin or Trudeau? Tom or Thomas? Prime minister or Conservative leader?
And they say an election campaign isn’t the time to discuss serious issues.
“I think I use that sometimes, and sometimes I don’t,” a bemused-looking Stephen Harper said Tuesday when asked about his predilection of late for referring to the Liberal leader by his first name…

How happy are you with your bank? If the answer is “less than enthralled”, you’re not alone: the 10th edition of J.D. Power’s Canadian Retail Banking Customer Satisfaction Study finds Canadians overall are less content with their lenders, and that satisfaction has been dropping for years.

Bank Customers Can’t Get No Satisfaction

The study, which splits lenders into Big Banks (BMO, Scotiabank, TD, RBC and CIBC) and Midsize Banks (think the Tangerine and PCF), gave each a score out of 1,000 based on the following criteria:

Product

Self-Service

Personal Service

Facilities

Communication

Financial Advisor

Problem Resolution

Smaller lenders and credit unions were not included in the survey.

Click here to view the best no-fee bank accounts in Canada> 

Overall, satisfaction among big bank consumers dropped 12 points from 2014 to 737. Midsize Banks performed slightly better at 759, a seven-point drop from last year. If bank satisfaction scores came in the form of school report cards, our nation’s lenders would be C students…