Saskatchewan First-Time Home Buyers' Tax Credit

The Saskatchewan First-Time Home Buyers' Tax Credit is available to first-time home buyers on a qualifying home purchased in 2018. A qualifying home can be a single-family or semi-detached house, townhouse, mobile home, condominium unit, or an apartment in a multi-unit house or apartment building.

You can claim this tax credit if you meet the following requirements: 

  • The qualifying home is located in Saskatchewan and is registered in your name (and/or in your spouse’s name, if applicable) 
  • You did not live in another home owned by you or your spouse in the year of purchase or in the previous four years
  • You occupy the home no later than one year after you buy it as your principal residence

Note: If you received a loan through the Graduate Retention Program First Home Plan, you can’t claim this tax credit.

Tax Tip:  If you or your spouse qualify for the disability amount, you can claim this tax credit even if you aren’t a first-time buyer, provided the home you’re moving into is better suited to meet the needs of the person with the disability. The person with the disability must occupy the home as a principal residence no later than one year after it is purchased. 

How much can I claim?

You can claim a 10.75% tax credit on the amount of $10,000, which you put towards the down-payment of your first home. This results in a tax credit of $1,075 (calculated by multiplying $10,000 by the 10.75% tax rate).  You and your spouse or common-law partner (if applicable) can both claim a portion of the tax credit, as long as the combined amount isn’t more than the maximum claimable.

Note: This amount can only be claimed in the year you bought your home – it cannot be carried forward to be claimed in a future year.

Example: John and Katie purchased and took possession of a qualifying home in 2018. They both want to claim an equal amount of the Saskatchewan First-Time Home Buyers’ Tax Credit on their return. The maximum amount either of them can enter on their returns would be $5,000 each. H&R Block will automatically calculate the resulting tax credit as follows:

 John

 $5,000 x 10.75% =     $537.50

 Total credit =  $1,075

 Katie

 $5,000 x 10.75% =   $537.50

 

Where do I claim this?

Follow these steps in H&R Block's 2018 tax software:

Before you begin, make sure you tell us that you lived in Saskatchewan on December 31, 2018.

  1. Under the PREPARE tab, click the REQUIRED icon.

  2. Navigate to the Special situations page. You’ll find yourself here: 

    DIY18_Special_situations_EN.png

  3. Enter the credit amount you want to claim in the field labelled, If you purchased a home in 2018 that qualifies for the Saskatchewan home buyers’ amount, enter how much of the $10,000 credit you’d like to claim.
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