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It's Renovation Tax Break Time
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Realty Executives
 
April 2022
Hi!

It's tax time! I'm sure you're aware :(

But did you know you can deduct home improvement costs?

Yes, the Sask Party added PST to my golf game and gym membership, but they also awarded me a tax break this year.

It's called the Saskatchewan Home Renovation Tax Credit (politicians aren't creative), and you can read about it HERE

I'll deliver the highlights for you:

  • Renovations to your principal residence only.
  • Renovations were done between October 1, 2020, and December 31, 2022.
  • Base amount is $1000, total amount can't exceed $12,000.
  • You can split the amount between family members.
  • From painting to pool liners, furnaces to fixtures, nearly everything is eligible.

Here's what you can't do:

  • Add value for your DIY labour.
  • Do renovations to a cottage or cabin.
  • Claim routine or annual maintenance.
  • Add in financing costs.

Lisa and I had new quartz countertops, and a backsplash installed in our home and claimed $7500. We saved $700 in taxes, so well worth it.

Now go scramble to find those renovation receipts!

CB
 

Listing Pic Fail of the Month!

This one is currently listed on MLS! They should have hung that TV on the wall instead.

I call this one HOUSE HUNTING.
 
Thanks for  reading


CB
 
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Now on the Market
8075 Wascana Gardens Crescent
Wascana View
$1,029,900

This walkout is over 2300 sqft and sits on a 15,000 sqft lot backing the environmental reserve. I'm looking for a buyer, who do you know that should move in?

Here is a link to the full listing and all the pictures!
8075 Wascana Gardens Crescent
 
Curtis Bonar, 355 Broad Street, Regina, SK S4R 1X2, Canada

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