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posted Oct 29, 2023 11:24:31 AM

How much can we use for the sk home reno credit? The form is defaulting to 9,000 but I spent over 20,000 last year in reno's

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Level 7
Oct 30, 2023 12:27:16 PM

The Saskatchewan Home Renovation Tax Credit helps offset the cost of home renovations. You can claim renovation costs over $1,000, and up to:

  • $12,000 for the 2021 tax year
  • $10,000 for the 2022 tax year

You can claim the amount of eligible expenses that you paid or incurred for your principal residence above $1,000, but not more than $10,000 for a maximum claim of $9,000. That means, the base amount of $1,000 is subtracted from your claim, if your costs were $10,000, you would claim $9,000.

 

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