Winter 2021

President’s Message

The Wheatland team would like to wish you all a happy and safe 2021. 2020 has been a year unlike any other in our memories and we all look forward to the possibility of things returning to some degree of normalcy in the coming year.

It is hard to believe that Wheatland Accounting Services Ltd is celebrating its 40th anniversary in 2021! We want to thank all of our clients who have entrusted us with their business and enabled us to reach this milestone. We look forward to our continued relationship on into the future. Now the 2020 tax filing season is fast approaching and our team is getting organized and prepared for the challenges and excitement that it presents! We are happy to accommodate receiving your data for tax purpose electronically and arranging phone or virtual appointments for your safety, but the office will be open for drop offs, pickups and scheduled meetings by appointment provided government restrictions continue to allow it.

We are pleased to have Sarah Dayman from the Corning area join our team to give us extra support in the growing tax and bookkeeping part of our business. Sarah’s farm background and work experience at Candiac Auction Mart will be a real asset as she learns new skills in the accounting area.

We hope our mild winter continues and there are no more repeats of the wild wind storm we recently experienced. There was certainly quite widespread damage to buildings and property throughout the southeast of the province.

Kelvin Shultz PBA CAFA Dip Ag

Important Deadlines

February 15 – RRSP Projection Deadline
March 1 – T4 & T5 Filing
March 1 – RRSP Purchases
March 31 – T3 Filing & Trust Return Filing (or 90 days from the year end of trust)
April 30 – Final day to pay, cancel or change AgriStability for 2021.

2021 Customer Agreements

All value billing agreements have been sent out via mail or email. We encourage you to review the entire agreement including all of the projects listed before you sign it. Contact our office if you have not received your 2021 Customer Agreement or if you have any questions.

Covid Home Office Expenses for Employees

Simplified method can only be used in 2020

As an employee, you may be able to claim certain home office expenses (work-space-in-the-home expenses, office supplies, and certain phone expenses). There is a new temporary flat rate method. If you worked more than 50% at home in a 4 week period you can claim $2 per day during that period plus any additional days worked at home. The maximum using this method is $400. Multiple people working from the same home can make the claim. To find out if you may qualify to claim home office expenses give us a call.

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
  • Roofing
  • Home renovations
  • Landscaping
  • Furnace
  • Water heater
  • Central air
  • Permanent fixtures
  • New deck
  • Fencing yard
  • Solar Panels
  • 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.

CEBA requirements and deadlines have changed:

  • As of December 4, 2020, CEBA loans for eligible businesses have increased from $40,000 to $60,000.
  • Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion, which provides eligible businesses with an additional $20,000 in financing.
  • All applicants have until March 31, 2021, to apply for $60,000 CEBA loan or the $20,000 expansion.


NEW All applicants can now check the status of their CEBA Loan online at: https://status-statut.ceba-cuec.ca/. Please wait 5 to 7 business days after finalizing your application before checking your loan status on the loan status website.

Wheatland Accounting can not apply for this loan on your behalf. Please contact your bank for further information.

Tax can be rewarding!

Clients that have ALL of their 2020 tax information to us Before March 31, 2021 will be entered into a draw for a $50 credit on their Wheatland account.

Clients who send us their information electronically by March 31, 2021 will also be entered into a draw for a $50 credit on their account.

Please have all your tax information in prior to April 15th to guarantee completion by April 30th.

Send us your information electronically by March 31st and be entered to win both draws!

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