WINNIPEG — The Western Retail Lumber Association is welcoming the Saskatchewan Party’s pledge to introduce a Home Renovation Tax Credit to the province if it is re-elected in this month’s election. The centre-right party, formed in 1997 by majorities from the provincial Liberal and PC parties as a united front against the NDP, has governed Saskatchewan since 2007.
The proposed Saskatchewan Home Renovation Tax Credit would allow homeowners to claim a 10.5 percent tax credit on up to $20,000 of eligible home renovation expenses incurred between October 1, 2020 and December 31, 2022, saving them up to $2,100. Such expenses would include permanent additions to the home but not items like furniture, appliances, hot tubs, tools or maintenance (such as carpet or furnace cleaning).
“From the beginning of the pandemic, the WRLA has been advocating for a renovation and eco-retrofit tax credits as a strategic way to support economic recovery,” the association said in a statement. “We are very pleased that the government listened to our requests and took our proposals to support economic recovery into consideration. Should the Saskatchewan Party be re-elected, we look forward to further collaboration on the implementation of this tax credit.”
