Province reintroduces Home Renovation Tax Credit
Shaynee Modien
Local Journalism Initiative Reporter
The Shaunavon Standard
Starting soon, Saskatchewan residents can expect more than just a spring cleaning as they learn about the reintroduced Home Renovation Tax Credit.
The Saskatchewan Home Renovation Tax Credit has been re-introduced for the 2025 and subsequent taxation years. Under this non-refundable tax credit, renovation expenses must be incurred on or after October 1, 2024. Saskatchewan homeowners can save up to $420 annually in provincial income tax by claiming a 10.5 percent tax credit on up to $4,000 of eligible home renovation expenses.
Eligible expenses include the cost of labor and professional services, building materials, fixtures, equipment rentals, and permits. Seniors may save up to $525 annually based on maximum eligible home renovation expenses of $5,000.
Although the tax credit is not as substantial as it was during the COVID-19 pandemic, it should still provide assistance to those looking to upgrade their homes. Business partners Steve Pauls, sole proprietor of Corriano Industries, and Chris Beckner of Beckner Cabinets, Flooring, and Tiling, have noticed a steady stream of work in home renovations. However, they believe the public is slow to learn about the Saskatchewan Home Renovation Tax Credit.
Based in Swift Current, Steve and Chris, who are long-time friends and have been working together for the past five years, have been working throughout the southwest trading area, including recent projects in Shaunavon. Steve mentioned that while they haven’t noticed an increase in sales, they do inform their customers about the tax credit, as it benefits their business.
Unfortunately, it seems that the general public is not yet aware of the tax credit. As Steve stated, “People haven’t been made very aware, and the home renovation credit means nothing if you don’t know about it.” However, some customers who have learned about the tax credit have even gone as far as buying ahead, anticipating potential price increases due to American tariffs.
As spring and summer progress, more people are expected to take advantage of this opportunity. The tax credit is administered by the Canada Revenue Agency (CRA) as part of the Saskatchewan personal income tax system, beginning with the 2025 taxation year. A reminder that the tax credit can be claimed through your annual tax return.
To learn more, contact the Canada Revenue Agency directly at 1-800-959-8281 (English) or 1-800-959-7383 (French), or visit the Saskatchewan Home Renovation Tax Credit website.
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