News & Publications


SRHBA Approves of a New Home Renovation Tax Credit >> The Saskatchewan Party’s First Election Promise

Saskatoon, SK >> September 30, 2020 >> Scott Moe, Leader of the Saskatchewan Party, announced his first official campaign promise today, right here in Saskatoon. If re-elected, his government would introduce as its first bill, a new Saskatchewan Home Renovation Tax Credit. Homeowners would be able to claim a 10.5% tax credit on up to $20,000 of eligible home renovation expenses incurred between October 1, 2020, and December 31, 2022, reducing their renovations expenses by $2,100. The retroactive nature of this promise means there are 27 months of activity where the following eligible renovations can be made:

  • Renovating a kitchen, bathroom, or basement
  • Shingling a roof or renovating outdoor fixtures to a home
  • Installing new carpet or hardwood floors
  • Building an addition, deck, fence, or retaining wall
  • Purchasing and installing a new furnace, water heater, or solar panels
  • Painting the interior or exterior of a house
  • Resurfacing a driveway
  • Laying new sod

A Home Renovation Tax Credit will increase residential construction activity in the province, and help drive Saskatchewan’s economic recovery.

“Residential construction has a significant economic impact in our province, and this is a solid policy when considering the economic recovery required during a pandemic,” comments Chris Guérette, CEO of the Saskatoon & Region Home Builders’ Association. “We know from similar policies implemented federally in the past, that the economic impacts are considerable.”

In 2019, renovation activity in Saskatchewan was responsible for $1.2 billion in wages and over 18,500 of on and off-site jobs. That translates to $2.1 billion that shows up in purchases across the entire provincial economy. “But most importantly, this builds investment value in maintaining and improving the largest single wealth-builder for many families: their home,” continued Guérette.  “And never before have our homes been more important than they are today, now that we understand the realities of a pandemic.”

This is especially timely with the SRHBA’s launch of its Certified Professional RenoMark Renovator designation this past August – the first of its kind in Canada (link to news release here). “This meshing of initiatives is particularly important as on the one end, we’re boosting economic recovery and getting people in the sector working, and on the other end, industry is elevating professionals with safety standards, a code of ethics, third-party warranty and frankly, protecting homeowners so they can easily identify professionals they can trust when they are investing into significant renovations into their home. In our opinion, both sides of the equation are required in order to maximize the benefits of this policy for our province.”

The SRHBA currently has over 60 Certified Renovators upgrading their standards during a phase-in period which will conclude on October 31, 2020. At that point, Saskatoon & region homeowners will have many certified renovators to choose from for their next renovation project, giving them the confidence they have chosen a company that meets the highest standard for a renovation professional in Canada.  Renovators interested in enhancing their skills and becoming certified can contact the SRHBA to inquire about tuition rates, benefits and services.

The SRHBA applauds this election promise, and should the Saskatchewan Party be re-elected, looks forward to continued collaborations to deliver a Saskatchewan Home Renovation Tax Credit to the economy.

###

For more information (in English or French), please contact:
Chris M. Guérette, CEO
306.292.8619
cguerette@saskatoonhomebuilders.com

Categories

Cover for Saskatoon & Region Home Builders' Association
1,077
Saskatoon & Region Home Builders' Association

Saskatoon & Region Home Builders' Association

Building Homes, Building Communities, Building the Province

Last chance to register!✅We are excited to be hosting a Zoom session with NSBA and Greater Saskatoon Chamber of Commerce on the governance and future of Saskatoon Land!Join us via Zoom on March 21 from 2:30 to 4:00 PM to provide your input as City Administration prepares its report to Saskatoon City Council.SRHBA members can register here: saskatoonregionhomebuildersassociation.growthzoneapp.com/ap/Events/Register/gLWYq5lp ... See MoreSee Less
View on Facebook
CEO Nicole Burgess is truly making the residential construction industry better day by day! It is so exciting to see how many female leaders we have across all of the HBA’s in Canada!😊 ... See MoreSee Less
View on Facebook

3 weeks ago

Saskatoon & Region Home Builders' Association
A stunning home with tall ceilings and a unique floor plan that creates the perfect blend of farmhouse, modern and classic styles. The board and batten exterior accomplished the farmhouse style while the large dormers and gables added elegance. The custom layout features dual walk-in pantries, a guest suite and designer kitchen. The 4-car garage and the low light guiding down the stairs into the kitchen were purposeful. The ensuite features access to the laundry, in-floor heat and an electronic shower valve. Zoned heating adds natural comfort to the home, while a natural gas generator adds peace of mind. This 3789 square foot home turned vision into reality and was truly a labor of hard work and love. Congratulations, Spruce Homes for winning this year’s Best Custom Home over 3500 square feet! 🎉...#HousingExcellenceAwards #HousingExcellenceYXE #Saskatoon #SaskatoonandRegionHomeBuildersAssociation #HomeBuildersAssociation #SRHBA #CertifiedProfessionalHomeBuilder #HomeBuilder #CustomHome #NewHome #CustomDesign #CustomBuild #ModernHomeDesign #YXE #YXEHomes ... See MoreSee Less
View on Facebook

3 weeks ago

Saskatoon & Region Home Builders' Association
This 2692 square foot Scandinavian-inspired walk-out bungalow was built for its young family to entertain and grow into. Flowing from the outside, the stone wall in the entry welcomes guests. The Great Room is the main focal point, with 16’ high ceilings, a glass wall and perimeter windows above. A stone fireplace with oak slat wall and natural wood floors brings in the warmth, while the open concept kitchen includes a large working island, and a side coffee bar. The outdoor space and covered deck shelter the outdoor kitchen and dining space, while the shared open-air lounge with gas fire table has direct access from the master bedroom. A dream home come true! Congratulations, Westridge Homes for winning this year’s Best Custom Home 2501 to 3500 square feet! 🎉...#HousingExcellenceAwards #HousingExcellenceYXE #Saskatoon #SaskatoonandRegionHomeBuildersAssociation #HomeBuildersAssociation #SRHBA #CertifiedProfessionalHomeBuilder #HomeBuilder #CustomHome #NewHome #CustomDesign #CustomBuild #ModernHomeDesign #YXE #YXEHomes ... See MoreSee Less
View on Facebook