The Saskatchewan government introduced a PST rebate for new home construction in March 2020. This rebate was originally only available on the purchase of a previously unoccupied new home where the purchaser took possession of the home between April 1, 2020, and March 31, 2023, or signed a contract for the purchase of a new home before April 1, 2023, with the housing start completed before that date and possession of the home taken between April 1, 2023, and March 31, 2024.
However, in this year’s provincial budget, the government announced the extension of the PST rebate to new home purchases where possession takes place before April 1, 2026.
The extended program provides a rebate of up to 42% of the PST paid by new home buyers who sign a contract:
- To purchase a newly constructed home on or after April 1, 2023, with the buyer taking possession by March 31, 2026; or
- To purchase a newly constructed home before April 1, 2023, where the housing start is completed on or after April 1, 2023, and the buyer takes possession of the home before April 1, 2026.
The expanded rebate program is available for new homes that are priced below $550,000, excluding PST and GST, as well as the price of land and certain furniture, fixtures, and appliances. The full rebate is available on homes with a price of less than $450,000, and homes priced between $450,000 and $550,000 are eligible for a reduced rebate. Rebate applications must be received by March 31, 2027.
Full details about the expanded rebate can be found on the province’s website here.
- Topics
- Construction
- Real Estate