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First-time Homebuyers' Tax Credit

The First-time Homebuyers' Tax Credit provides a non-refundable income tax credit to help make home ownership more affordable. To claim this tax credit on your Saskatchewan income tax return use Form SK428, available from the Canada Revenue Agency.

  • Eligible homebuyers acquiring qualified homes after December 31, 2011, are able to claim the personal income tax credit.
  • This income tax measure provides a provincial non-refundable income tax credit of $1,050 to eligible taxpayers, determined by applying the provincial tax credit rate of 10.5 per cent to the first $10,000 of an eligible home purchase made by December 31, 2024.
  • Beginning January 1, 2025, the maximum amount used to calculate the credit increased by 50 per cent, to a maximum benefit of $1,575 by increasing the credit amount from $10,000 to $15,000.
  • The First-time Homebuyers' Tax Credit Transition Program Grant was introduced so homebuyers can benefit from the increased credit amount beginning October 1, 2024. This one-time grant program provides payments to eligible individuals who acquired a qualifying home and registered it with Information Services Corporation from October 1, 2024, to December 31, 2024. See the First-time Homebuyers' Tax Credit Transition Program section below for details about the grant.
  • A similar federal non-refundable income tax credit of $1,500, determined by applying the federal tax credit rate of 15 per cent to the first $10,000 of an eligible home purchase, is also available.

To learn more about income tax credits, please contact:

Canada Revenue Agency
Phone: 1-800-959-8281 (English)
Phone: 1-800-959-7383 (French)

  1. Eligibility
  2. How to Claim
  3. The First-time Homebuyers' Tax Credit Transition Program Grant
  4. Further Information
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1. Eligibility

Eligibility rules mirror those of the existing federal tax credit.

  • Under the federal rules, an eligible individual acquiring the home (and, if applicable, the spouse or common law partner jointly purchasing the home) must not have lived in a home they owned during the calendar year in which the home was acquired or in any of the previous four years.
  • The individual and/or spouse/common law partner must occupy the home within one year of purchase.
  • By following the federal rules, a qualifying home is either a new or existing home located in Saskatchewan that is eligible for the federal Home Buyers' Plan where home purchasers are permitted to withdraw funds from their RRSPs to finance the home purchase. Qualifying homes include single-family houses, semi-detached houses, townhouses, mobile homes, condominium units and apartments in multi-unit houses or apartment buildings. However, if you received a loan through the Graduate Retention Program First Home Plan, then you may not claim the Saskatchewan First-time Homebuyers' Tax Credit.
  • Saskatchewan matches the federal rules for extending tax credit eligibility to the acquisition of homes that are more accessible or functional for people with disabilities.
  • If you purchase a home during the calendar year, claim the tax credit on the Saskatchewan income tax return for that year, which is filed in the spring of the following year.
  • The non-refundable nature of the tax credit means that you must be subject to Saskatchewan income tax to benefit from the tax credit. However, you can share the tax credit with a spouse or common law partner, if applicable.
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2. How to Claim

Tax Credit

The tax credit is administered by the Canada Revenue Agency. To claim this tax credit on your Saskatchewan income tax return use Form SK428, available from the Canada Revenue Agency.

If you purchase a home during the calendar year, claim the tax credit on the Saskatchewan income tax return for that year, which is filed in the spring of the following year.

Transition Program Grant

The First-time Homebuyers’ Tax Credit Transition Program Grant is administered by the Ministry of Finance. If you claimed the First-time Homebuyer’s Tax Credit on your 2024 Saskatchewan income tax return and registered your home with the Information Services Corporation from October 1, 2024, to December 31, 2024, you will automatically be considered for a one-time transition program grant payment.

Transition program grant payment amounts are based on the credit you claimed and were assessed by the Canada Revenue Agency on your income tax return, and the date your home was registered with Information Services Corporation.

For a qualifying home you acquired and registered with Information Services Corporation on or after January 1, 2025, the full increased credit can be applied for on your 2025 Saskatchewan income tax return using Form SK428.

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3. The First-time Homebuyers' Tax Credit Transition Program Grant

The First-time Homebuyers’ Tax Credit Transition Program Grant will provide a one-time payment of up to $525 to eligible individuals who purchased a qualifying home from October 1, 2024, to December 31, 2024, and claimed the original tax credit on their 2024 personal income tax return. The grant reflects the increased benefit available under the 2025 First-time Homebuyers’ Tax Credit.

Individuals are not required to apply for the grant. To qualify for the grant, individuals must be eligible for, and have received, the Saskatchewan First-time Homebuyers’ Tax Credit for 2024 based on their 2024 Income Tax Notice of Assessment, and their home must have been registered with Information Services Corporation from October 1, 2024, to December 31, 2024.

Payments will be issued by the Ministry of Finance beginning mid-November 2025, with all payments expected to be sent by March 31, 2026. Individuals who have not received an expected grant payment by February 28, 2026, may contact:

Ministry of Finance
Email: grantsincentives@gov.sk.ca

No grant payments will be issued under this program after March 31, 2027.

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4. Further Information

Tax Credit

For more information about Saskatchewan personal income tax, including federal and provincial income tax credits, please contact:

Canada Revenue Agency
Phone: 1-800-959-8281 (English)
Phone: 1-800-959-7383 (French)

Transition Program Grant

For more information about the First-time Homebuyers’ Tax Credit Transition Grant Program, please contact:

Ministry of Finance
Email: grantsincentives@gov.sk.ca

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