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branbook
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How do I enter my portion of common area renovation expenses (determined by unit factor) that were paid for by my condo corporation for Sask home reno credit?

I own a condo in Saskatchewan, and our property management company provided a letter and chart detailing how much I am able to claim for the Saskatchewan Home Reno tax credit, based on the percentage of the property that I own (my unit factor), along with receipts for all of the work done to our common areas that would qualify as eligible expenses. I also did some personal renovations to my unit that I paid for myself. I was able to enter the receipts for my personal renos, but I'm not sure how to enter the corporation expenses. Do I put in the condo corporation as the supplier, or maybe the property management company? I tried entering the individual vendor receipts but that pushes me far over what I'm actually eligible to claim, according to my unit factor, so I'm not sure what to do next.
1 Reply

How do I enter my portion of common area renovation expenses (determined by unit factor) that were paid for by my condo corporation for Sask home reno credit?

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 max and will be subtracted $1,000 base amount from your claim.

For the 2021 tax year you must have incurred qualified expenses between:

  • October 1, 2020 and December 31, 2021

(another $10,000 for the 2022 tax year)

 

 

To type in your receipts,

  1. From the menu, select Find and enter provincial tax credits in the search field
  2. Select Provincial Tax Credits from the search results, then select Go
  3. On the Your Provincial Profile screen, select the checkbox for Saskatchewan home renovation tax credit, then select Continue
  4. On the Saskatchewan Home Renovation Tax Credit screen, answer the Yes or No questions, then select Continue
  5. Enter the details of an eligible expense, then select Add to save your information. Repeat this process for each expense
  6. Enter any amount claimed by someone else (if applicable), then select Continue
  7. Proceed until the Here's your Saskatchewan tax and credits summary screen appears. Your credit is now included in the amount next to Saskatchewan non-refundable tax credits

 

For more information, please click: 
Canada Revenue Agency(CRA)Line 58340 – Saskatchewan Home Renovation Expenses

TurboTax How do I claim the Saskatchewan Home Renovation Tax Credit?

 

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