2021 Home Renovation Tax Credit

Renovation expenses incurred between October 1, 2020, and December 31, 2021 can qualify for a non-refundable tax credit on your 2021 income tax return. Additional expenses incurred during 2022 can be used on your tax return that year. Saskatchewan homeowners may save up to $2,100 in provincial income tax by claiming a 10.5 % tax credit on up to a total of $20,000 of eligible home renovation expenses incurred to the homeowner's principal residence.

Eligible expenses include, but are not limited to:

• Painting
• Furnace
• New deck
• Roofing
• Water heater
• Fencing yard
• Home renovations
• Central air
• Solar panels
• Landscaping
• Permanent fixtures
• Garage construction

Costs of these renovations such as labour, installation, permits, and equipment rentals are also qualifying expenses.

To Qualify:

• Renovations must be to your principal residence, which must be located in Saskatchewan.
• The renovation must be substantially completed by December 31, 2022.
• At the time of the renovation(s), you must own, alone or jointly with another person, the housing unit (or share of the capital stock of a co-operative housing corporation that you acquired solely for the right to inhabit the housing unit owned by that corporation).
• You, your current or former spouse or common-law partner, or any of your or your spouse/common-law partner's children must ordinarily inhabit the housing unit during the eligibility period.
• In general, renovations must be of an enduring nature and integral to the dwelling or to the land that forms part of the dwelling. Land of one-half hectare or 1.24 acres, including the land upon which your housing unit stands and any portion of the adjoining land, will generally be considered part of your eligible dwelling for purposes of this tax credit.

Keep your receipts for any improvements or renovations to your principal residence and submit them with your 2021 income tax information.