Saskatchewan PST Rebate for New Home Construction
Have you heard about the Saskatchewan PST Rebate for New Home Construction?
The Provincial Sales Tax (PST) Rebate for New Home Construction provides a rebate of up to 42% of the PST paid on the purchase of a new, previously unoccupied home (newly constructed home).
Administered by the Ministry of Finance, the PST Rebate for New Home Construction is designed to make homeownership more affordable for Saskatchewan residents.
The program is available for newly constructed homes with a total price of less than $550,000, before taxes. This amount does not include the value of the land and the price of any furniture, furnishings and appliances (* with some exceptions).
The amount of the rebate is reduced for homes with a total price between $450,000 and $550,000. Details on how the rebate is calculated are available here.
You may be eligible for the rebate if you:
Purchased a newly constructed home from a builder for use as your primary place of residence;
Constructed or hired someone else to construct your home for use as your primary place of residence;
Purchased shares in a co-operative housing (co-op) complex to use a unit in the co-op for use as your primary place of residence;
Sign a contract to purchase a home (for homes purchased from a builder) on or after April 1, 2023, and take possession before April 1, 2026;
Sign a contract before April 1, 2023, to purchase a home (for homes purchased from a builder) for which the new housing start is completed on or after April 1, 2023, and you take possession of the home before April 1, 2026;
Occupy the home (for owner-built homes) before April 1, 2026, for which a new housing start is completed on or after April 1, 2023.
Note:
(1) The information provided above is for informative purposes only. For more details regarding eligibility, the application process, and other relevant information under the original program, please visit this link.
(2) Participants of this program may also be eligible for the Secondary Suite Incentive Grant Program (SSI).
