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SK First-Time Homebuyers' Tax Credit

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Saskatchewan   ->   Personal Tax Credits -> First-Time Homebuyers' Tax Credit

Saskatchewan First-Time Homebuyers' Tax Credit and Disability Home Purchase Tax Credit

A new non-refundable tax credit was introduced as part of the Saskatchewan 2012 Budget based on an amount of $10,000 for first-time home buyers who acquire a qualifying home on or after January 1,2012.  This will provide a tax credit of up to $1,100, based on the lowest Saskatchewan personal tax rate.

The credit will also be available in respect of a home acquired by an individual who is eligible for the disability tax credit (DTC), or by an individual for the benefit of a DTC-eligible relative, if the home is acquired to enable the DTC-eligible person to live in a more accessible dwelling.

The credit can be claimed by the individual who acquires the home, or by the spouse or common-law partner of that individual, or can be split between spouses.  There will be no carry-forward of unused amounts.

To be eligible for this credit, neither the individual nor the individual's spouse or common-law partner can have owned and lived in another home, anywhere in Canada, in the calendar year of the home purchase or in any of the four preceding calendar years.

Other features of this tax credit are the same as the federal Home Buyers Tax Credit.

The Canadian Tax Calculator includes the first-time homebuyers' tax credit.

Canada Revenue Agency (CRA) Resources:

Line 5837 Home Buyers' Amount regarding the SK tax credit

Line 369 Home Buyers' Amount regarding the Federal tax credit

Revised: April 22, 2019


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