The people who are really going to get shafted is anyone who made under the cap for the goodie bag in 2006 and don't qualify in 2008. They'll get the rebate and then owe it back. I'm hoping that they will base it on the 2007 AGI (because I went be to work Jan 2,2008). In other words, the government cuts the check based on the 2006 return but then will adjust on the 2007 return. Then if the taxpayer makes ovr ethe threshold in 2007, they will owe it back in 2008. AcK! If the plan is this confusing how can it be good or even reasonable?

Available again this year (for 2010, not 2002, this time) ... limits about $25,000. single and $35,000. married. I was pleased with myself last year, in having arranged my affairs (via substantial charitable and some political contributions) ... ... to reduce my Federal tax load to zero. And the provincial liability was low, possibly nil, till I got down to the recently-initiated Health Levy and had to pay a few hundred for that. But I should not complain ... as I made substantial use of the healthcare services, for nil or minimal cost, during this past year. And I used to say that we should all be willing to pay a portion of the cost of running the country ... ... and then light fires under our legislators when we believed them to be running it/them improperly! At least ... we can do that, most of the time, without getting banged on the head for our trouble. Or locked up. ole joyful

Bob, This is part of "The Energy Policy act of 2005". Attched is a link to the policy and it explains the credits suchas High efficiency furnaces $150, High Efficiency Central A/C units $300, High Efficiency fans for heating/cooling $50,... Split systems must have a Seasonal Energy Efficiency Rating of 15 AND and Energy Efficiency Rating of 12.5. Total credit max is $500 and the deadline is December 31, 2007. As the credits are listed separatly, I would assume you can get the $300 credit for the Condensing unit & Evaporator coil (Less furnace), but heres the catch. You have to buy an ARI certified set of coil and matching condensing unit. The sites below will help you. Also contact a local A/C installer and get a second opinion. Remember this is a "Tax Credit" so if you can google the tax credit form, it should definately explain what is and is not covered. Thanks Dan Martyn http://www.epa.gov/oust/fedlaws/publ_109-058.pdf http://www.energy.gov/taxbreaks.htm http://www.cee1.org/resid/rs-ac/res-ac_specs.pdf http://www.cee1.org/resid/rs-ac/rs-ac-tax-credits.php3 http://www.ceehvacdirectory.org/ Here is a link that might be useful: Energy Policy Act of 2005

Recently a number of (mainly seniors) have been using a certain type of investment (unit trusts) that paid quite a high rate of return, some of it tax advantaged in the recipient's hands, plus some of it return of part of one's originally invested money. Such companies that structured themselves to pay out most of their earnings to shareholders were allowed to escape paying corporate tax. Some people who owned a somewhat different type of investment, stocks of Canadian companies, paying a much lower rate of return felt that they were being unfairly treated, and quite a few were leaving the type of investment that they'd been using to buy the other type. So the government changed the rules of calculating tax on the second type of income relative to 2006, with a view to encouraging a number of taxpayers to stay put. Until 2005, a single "taxpayer" who'd earned somewhere around $27,000 - 30,000. of solely that kind of income had a couple of types of credits work to allow them to have their tax liability reduced to zero. The differing method of calculation in 2006 allowed the level of the single "taxpayer's" income from solely that type of income to increase to $46,345. before becoming liable to pay one cent of income tax ... except the $600. Ontario Health Levy in this province. Would that my Member of Parliament's office were to notify every constituent annually of all the changes to the tax code, especially ways that some fortunate people could avoid paying tax at all up to over $45,000. ... ... but I'm not holding my breath, waiting for such a day! The person who told me of it was a C.A. who'd been an accountant (I think controller) of a substantial local company, prior to his retirement (with no pension) a couple of years ago. We've attended a monthly study group learning about investments for over 7 years (sometimes travel together to the meeting) ... I've learned a lot in that group. The government recently changed the tax rules relative to the first type of investment ... not allowing the corporations to avoid income tax, even if they agree to pay out most of their income. The value of that market lost billions overnight ... I can send any of you interested some delicious cartoons related to that! Recovered a substantial portion of it, later. In the light of that ... they may change the rules again next year relative to the second type of income, to increase the rate of income tax on it to more or less previous levels. Good wishes for learning more about the effective use of your income and assets. ole joyful