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What Is Home Renovation Tax Credit

The Government of Saskatchewan offers various incentives to help people adopt eco-friendly and sustainable practices. <br>

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What Is Home Renovation Tax Credit

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  1. What Is Home Renovation Tax Credit?

  2. Introduction • The Government of Saskatchewan offers various incentives to help people adopt eco-friendly and sustainable practices. • Home Renovation Tax Credit is one such incentive that allows people to make their homes more sustainable during renovation. • Installing solar panels is one of the best ways to make your home sustainable and energy-efficient.

  3. Overview Of The Home Renovation Tax Credit • The Government of Saskatchewan offers Home Renovation Tax Credit - a non-refundable tax credit • Homeowners can save up to $2,100 in provincial income tax by getting up to a 10.5% tax credit on $20,000 of eligible home renovation expenses.

  4. Importance • A lot of people want to renovate their homes to make them more eco-friendly such as by installing residential solar panels. • Home Renovation Tax Credit allows such individuals to renovate their homes and save money in taxes.

  5. Qualification Criteria • Renovate your principal residence in Saskatchewan. • Pay the renovation expenses between October 1, 2020, and December 31, 2022. • Register the house with your name, either alone or jointly with another individual at the time of renovation. • You or your relative must be inhabiting the house during the eligibility period.

  6. Conclusion • Home Renovation Tax Credit is one of the many incentives that help people in installing residential solar panels. • If you qualify for this incentive, you should definitely avail it to save money on tax returns.

  7. Contact Us 1-833-SUNDAWG 306-912-9988 info@sundawgs.com www.sundawgs.com

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