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lorrieb
New Member

Can I claim the $5000.00 for First-Time Home Buyers` Tax Credit as well as the $10,000.00 for the Saskatchewan Home Buyers` amount

I purchased my home in 2014 and am a Saskatchewan resident.

The last home I owned was in 2004.

1 Best answer

Accepted Solutions
fuzzy
New Member

Can I claim the $5000.00 for First-Time Home Buyers` Tax Credit as well as the $10,000.00 for the Saskatchewan Home Buyers` amount

Yes.  You are entitled to both credits.  According to CRA:

You can claim this amount if the rules are met for claiming the amount on line 369 of federal Schedule 1.

You can claim an amount of $10,000 for the purchase of a qualifying home.  A qualifying home must be registered in your and/or your spouse's or common-law partner's name with the Land Titles Registry and must be located in Saskatchewan.

The claim can be split between you and your spouse or common-law partner, but the combined total cannot be more than $10,000.

When more than one individual is entitled to the amount (for example, when two people jointly buy a home), the total of all amounts claimed cannot be more than $10,000.

Supporting documents – If you are filing electronically or filing a paper return, do not send any documents. Keep all your documents in case we ask to see them at a later date.

View solution in original post

2 Replies
fuzzy
New Member

Can I claim the $5000.00 for First-Time Home Buyers` Tax Credit as well as the $10,000.00 for the Saskatchewan Home Buyers` amount

Yes.  You are entitled to both credits.  According to CRA:

You can claim this amount if the rules are met for claiming the amount on line 369 of federal Schedule 1.

You can claim an amount of $10,000 for the purchase of a qualifying home.  A qualifying home must be registered in your and/or your spouse's or common-law partner's name with the Land Titles Registry and must be located in Saskatchewan.

The claim can be split between you and your spouse or common-law partner, but the combined total cannot be more than $10,000.

When more than one individual is entitled to the amount (for example, when two people jointly buy a home), the total of all amounts claimed cannot be more than $10,000.

Supporting documents – If you are filing electronically or filing a paper return, do not send any documents. Keep all your documents in case we ask to see them at a later date.

Can I claim the $5000.00 for First-Time Home Buyers` Tax Credit as well as the $10,000.00 for the Saskatchewan Home Buyers` amount

Thank you for your question.

Here is a link which may help: https://turbotax.intuit.ca/tax-resources/home-owner-tax/new-home-builders-tax-credit.jsp

Have a good evening.