REGINA — Government of Saskatchewan has announced details of the Provincial Sales Tax (PST) Rebate for New Home Construction and the Secondary Suite Incentive (SSI) grant program.
According to a press release the program is designed to help homeowners with rising costs, promote new home construction and increase the availability of rental units.
The programs are administered by the Ministry of Finance. Those participating in the PST Rebate for New Home Construction may also be eligible for the SSI grant program. Combined, the grant program and rebate will provide qualifying homeowners with up to $46,340 in cost savings.
The PST Rebate for New Home Construction provides a rebate of up to 42 per cent of the PST paid on the purchase of a newly constructed home. The rebate applies to contracts signed with builders, or new housing starts completed retroactive to, or after, April 1, 2023.
The new homes must be occupied by April 1, 2026, and rebate applications must be received by March 31, 2027.
The rebate is available for homes with a total price of less than $550,000 before taxes and excluding the value of the land and price of any furniture, furnishings, and appliances, with some exceptions. The percentage of the rebate is reduced for homes with a total price between $450,000 and $550,000.
Eligibility requirements, how to apply, and further information about the rebate is available at PST Rebate on New Home Construction.
The new SSI grant program will provide 35 per cent of the cost to build a new secondary suite at an owner's primary residence, to a maximum grant of $35,000 per qualifying property.
The qualifying secondary suite must be on the property of a single-family home (e.g., basement suite, garden suite, laneway home, or garage suite) and include a separate entrance, full kitchen and full bathroom and meet all national, provincial, and municipal bylaws, codes and standards to be used as a rental unit. Costs of renovating an existing secondary suite or the primary residence are not eligible.
The SSI will be open to qualifying properties incurring eligible costs retroactive to April 1, 2023, to March 31, 2026, to accommodate projects that have already been initiated. Final applications must be submitted by March 31, 2027.
The necessary regulations, application form and program guidelines will be published on the SSI webpage in January 2024. More information will be shared at that time.
Eligibility criteria and more information about the SSI grant program is available at Secondary Suite Incentive (SSI) grant program.
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