First Time Home Buyer's Tax Credit (SK)

Saskatchewan's First-Time Homebuyers Tax Credit is a non-refundable provincial credit that can reduce Saskatchewan income tax for eligible buyers of a qualifying home in the province.

Reviewed October 29, 2026

What the Provincial Credit Is Worth

For eligible qualifying homes acquired on or after January 1, 2025, the provincial credit amount is $15,000. At 10.5%, this means a maximum reduction in Saskatchewan income tax of $1,575. The reduction only applies if you qualify and have enough provincial tax payable. Homes bought in 2024 had a provincial benefit of up to $1,050.

General Eligibility

Provincial rules generally mirror federal rules. Usually, neither you nor a spouse or partner buying with you can have lived in a home owned by either of you in the purchase year or the four years before. Disability and accessibility exceptions can apply. The home must be in Saskatchewan and occupied by the owner within one year, under provincial criteria. People who received a Graduate Retention Program First Home Plan loan cannot claim this credit.

Claiming the Credit

The credit is claimed on Form SK428 for the tax year of purchase. Qualified buyers may share it, but the combined claim cannot exceed the maximum. Official details: https://www.saskatchewan.ca/residents/taxes-and-investments/tax-credits/first-time-home-buyers-tax-credit

The 2024 Transition Grant

A separate, one-time grant of up to $525 may apply to eligible claimants whose qualifying homes were acquired and registered from October to December 2024 and who claimed and received the 2024 credit. Eligibility is considered automatically. No grant payments will be made after March 31, 2027. See the provincial page above for details.

The Federal Amount Is Separate

CRA's 2025 Line 31270 guidance describes a federal credit amount of up to $10,000. This is not a cash payment, and federal rules apply. Its tax value depends on the rate for the applicable year: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31270-home-buyers-amount.html

Before You File

Rules can change. Confirm the current rules and your specific eligibility with CRA or a tax professional.