Sask. Party leader promises tax credit rise on first homes, permanent return of renovation credit

Saskatchewan Party Leader Scott Moe says if re-elected, his government would introduce a Saskatchewan Home Renovation Tax Credit aimed at making renovations more affordable.

Friday’s announcement adds to a list of tax incentive programs the Sask. Party is promising to bolster should they be re-elected.

“These are in addition to all the affordability measures that are not only in our most recent budget but are in each of the annual budgets here in the province,” Moe said. “[We’re] enhancing them so they are and continue to be highly successful in the future.”

The party says they would also increase the Saskatchewan First-Time Homebuyers Tax Credit.

To do that, the Sask. Party claims it will make the home renovation tax credit, which was introduced during the pandemic and later removed, permanent, and will allow homeowners to claim a provincial tax credit of up to $4,000 of renovation costs each year.

The party adds that would result in savings of up to $420 per year. Seniors will be able to save up to $525 a year as they would be allowed to claim an $additional $1,000, the party outlined.

The First-Time Homebuyers Tax Credit would also be raised by $5,000 to $15,000, the Sask. Party says. First time homebuyers would then be eligible for a $2,325 benefit when combined with a federal tax credit of $750.

“The cost of buying your first home or renovating your home has gone up, so we want to make home ownership and home renovations more affordable,” Moe said.

Increased benefits for seniors and people with disabilities were also promised by the party on Friday.

The Sask. Party says it plans on increasing the Personal Care Home Benefit from $2,500 to $3,500 per month.

The current 140 clients of the Saskatchewan Assured Income for Disability (SAID) program living in a personal care home would also see the benefit increase by an average of $115 a month, the Sask. Party said.

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“It’s going to be a benefit, not only for low-income seniors, but [their] families knowing their parents are going to be taken care of,” Moe said.

In a media release from the Saskatchewan NDP on Friday, candidate for Regina-Elphinstone Centre Meara Conway said the Sask. Party has been refusing to help reduce costs for homeowners for years.

“Families have been knocking on the door and asking Scott Moe and the Sask. Party for help with the cost-of-living crisis for years — but no one’s been home,” Conway said following the Sask. Party’s announcement.

“They’ve let affordable housing units sit vacant when they could be used to help families. We can’t trust them to deliver on their election-time promises.”

Conway said NDP Leader Carla Beck is committed to saving families money right away, reiterating that the NDP will get rid of PST on groceries and children’s clothing and cut the gas tax.