First-Time Home Buyer Grants
in Saskatchewan

Saskatchewan’s provincial tax credit gives eligible first-time buyers a non-refundable income tax credit of up to $1,575, calculated at 10.5% on a base amount of $15,000. Updated for 2025 and subsequent tax years (previously $1,050 on a $10,000 base), this credit applies to both new and resale homes. It reduces your SK provincial income tax owed for the year of purchase.

• Credit amount: 10.5% × $15,000 = $1,575 maximum
• Non-refundable: reduces SK provincial income tax owing
• Applies to new and resale homes
• Must be a first-time buyer (no home owned in past 4 years)
• Must be a Saskatchewan resident at time of purchase
• Must occupy the home as your principal residence within 1 year
• Claim on your SK provincial income tax return for the year of purchase

Saskatchewan charges 6% PST on new home construction. The PST Rebate for New Home Construction returns up to 42% of the PST paid on newly built homes, reducing your effective PST cost significantly. This is not limited to first-time buyers — any purchaser of a new-build home in Saskatchewan can apply. Rebate applications must be submitted by March 31, 2027.

• Full rebate (42% of PST): homes with purchase price under $450,000
• Reduced rebate: homes priced between $450,000 and $550,000
• No rebate: homes over $550,000
• Example: on a $400,000 new home, PST = $24,000; 42% rebate = ~$10,080 back
• Not limited to first-time buyers
• Apply directly to the Province; applications due by March 31, 2027
• Applies to newly constructed homes only (not resale)

The federal Home Buyers’ Amount provides a $1,500 non-refundable tax credit (15% of $10,000) to eligible first-time buyers across Canada. You claim it on your federal income tax return for the year of purchase. It can be split between spouses or common-law partners purchasing together.

• Credit amount: 15% × $10,000 = $1,500 maximum per purchase
• Non-refundable: reduces federal income tax owing
• Can be split between two qualifying buyers (e.g., spouses)
• Applies to new and resale homes
• Must be a first-time buyer (no home owned in past 4 years)
• Must occupy as principal residence within 1 year
• Claim on Schedule 1 of your T1 federal tax return

The Home Buyers’ Plan lets you withdraw up to $60,000 from your RRSP tax-free for a qualifying home purchase. Couples can each withdraw $60,000 for a combined total of $120,000. The funds must have been in your RRSP for at least 90 days before withdrawal, and you must repay the amount to your RRSP over 15 years (beginning 2 years after withdrawal).

• Maximum withdrawal: $60,000 per person (increased from $35,000 in 2024)
• Couples: up to $120,000 combined tax-free
• Funds must be in RRSP at least 90 days before withdrawal
• Repay over 15 years (1/15th minimum annually)
• Both new and resale homes qualify
• Must be a first-time buyer (no home owned in past 4 years)
• Request via CRA Form T1036

The FHSA is the newest federal program for first-time buyers. Contributions are tax-deductible (like an RRSP), and qualifying withdrawals for a first home are completely tax-free (like a TFSA). You can contribute up to $8,000 per year with a $40,000 lifetime maximum. Combined with the HBP, one person can access $100,000 in tax-advantaged savings; a couple can access $200,000.

• Annual contribution limit: $8,000
• Lifetime contribution limit: $40,000
• Contributions are tax-deductible (reduce your taxable income)
• Qualifying withdrawals for first home are tax-free
• Can be combined with RRSP HBP: up to $100,000 per person
• Unused contribution room carries forward 1 year
• Open through any major Canadian bank or financial institution
• Must be a Canadian resident, first-time buyer, aged 18–71

For registered citizens of Métis Nation–Saskatchewan, the FTHB Program provides $15,000 toward the down payment plus $2,500 for closing costs, for a total of $17,500 in direct financial support. This is a one-time grant — not a loan. Contact MN–S Housing and Homelessness at fthb@mns.ca or 306-343-8240 to apply.

• Down payment grant: $15,000
• Closing cost support: $2,500
• Total: $17,500 (non-repayable grant)
• Must be a registered citizen of Métis Nation–Saskatchewan
• Must be a first-time buyer and SK resident
• One-time program per eligible household
• Apply: fthb@mns.ca or 306-343-8240

Can I use the FHSA and RRSP HBP together?

Yes — the FHSA and RRSP Home Buyers’ Plan are designed to be stacked. One person can withdraw $40,000 from their FHSA and $60,000 from their RRSP, for a combined $100,000 tax-advantaged down payment. A couple purchasing together can access up to $200,000 combined. The FHSA withdrawal is completely tax-free with no repayment required; the HBP withdrawal must be repaid over 15 years.

Does the PST rebate apply to resale homes?

No — the PST Rebate for New Home Construction applies only to newly constructed homes. Resale homes are not subject to PST in the first place, so no rebate is available. If you’re buying resale, you still benefit from the SK and federal tax credits, the HBP, and the FHSA, plus Saskatchewan’s zero land transfer tax.

What counts as “first-time buyer” in Saskatchewan?

Both the provincial and federal definitions consider you a first-time buyer if you have not owned and occupied a home as your principal residence in the last 4 years. This means you could have owned a home previously but sold it 4+ years ago and still qualify. Spouses and common-law partners are each assessed independently for the FHSA and HBP, but must both qualify for the couple to each use the programs.

Can I open an FHSA if I’m planning to buy in 1–2 years?

Yes, and you should open one as soon as possible. The $8,000/year contribution limit only starts accumulating once you open the account. There’s no minimum holding period before you can withdraw for a home purchase. Even if you open an FHSA today and contribute $8,000 before your purchase, you get an immediate tax deduction on this year’s taxes plus a tax-free withdrawal when you buy.

Is the SK Tax Credit refundable?

No — the Saskatchewan First-Time Homebuyers’ Tax Credit is non-refundable, meaning it reduces your provincial income tax owing but cannot create a refund if your tax owing is less than the credit amount. If you have limited SK income tax owing in the year of purchase, you may not receive the full $1,575 benefit. The same applies to the federal Home Buyers’ Amount ($1,500).

1. Open an FHSA today — If you haven’t already, open a First Home Savings Account at your bank. The $8,000 annual room only accumulates from the year you open it. Don’t lose contribution room by waiting.
2. Maximize your RRSP contributions — Money must be in your RRSP for at least 90 days before you can withdraw under the HBP. If you’re buying in 3–6 months, contribute now.
3. Determine whether you’re buying new or resale — If buying new, factor in the PST rebate (up to 42% of PST) in your budget. Applications must be received by March 31, 2027.
4. Claim both tax credits at tax time — The SK FTHB Tax Credit ($1,575) and the federal Home Buyers’ Amount ($1,500) are claimed on your provincial and federal tax returns for the year of purchase. Don’t miss either one.
5. Métis citizens: contact MN–S Housing — Apply early for the $17,500 FTHB Grant as funding is limited. Contact fthb@mns.ca or 306-343-8240 before writing an offer.
6. Get mortgage pre-approval — A Saskatchewan mortgage broker can confirm which programs you qualify for and factor your FHSA/HBP withdrawal into your down payment.