Five Star Painting Hopes to Use the Canadian Government's Home Renovations Tax Credit as an Opportunity for Greater Growth

To stimulate the economy, the Canadian Government reinstates a tax credit for home renovations.

Springville, UT, --( To help offset a recession, the Canadian Government has implemented numerous programs in an effort to circulate $63 billion into the Canadian economy. Amongst these programs is a $1350 tax credit for homeowners.

The Home Renovation Tax Credit (HRTC) will allow Canadian homeowners to deduct 15% of home renovations from their income tax returns, up to a $1350 limit, until February 10, 2010. This means that homeowners can apply for the credit on their 2009 tax returns if they have receipts to show proof of the work. Not only is it anticipated that the HRTC will serve as a stimulus to the Canadian economy but is also intended to "boost energy efficiency and the value of Canadian housing stock." Home renovations contractors are hoping the tax credit helps shield them from the recession. Five Star Painting, the fastest growing and second largest painting franchise company in North America, sees this as an opportunity for growth in Canada and is marketing aggressively and offering special discounts to homeowners who take advantage of the HRTC. Five Star Painting continues to expand in an ongoing effort to meet the demand of its customers. Through successful historical performance, brand identification, market dynamics, franchisee satisfaction, the level of initial and ongoing support and financial stability, Five Star remains a great investment opportunity with immeasurable growth potential.

About Five Star Painting

Formed in 2001 and franchising since 2005, Utah-based Five Star Painting Inc. has grown to more than 50 franchises in North America, with operations in the United States, Canada and Mexico. Five Star Painting offers its franchisees access to software, a 24/7 call center, marketing, training and management support. Five Star Painting customers receive a Five Star job without a five star price. As one of the fastest-growing franchises in the service industry, Five Star Painting works with industry leaders to deliver business opportunities to entrepreneurs committed to a high level of customer service.


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