Here are the benefits and other measures those in Saskatchewan can take advantage this tax season – thanks to the recent provincial budget. The provincial government released its 2026-27 budget Wednesday to no shortage of criticism, with NDP opposition and several organizations claiming the document lacked proper action on the issues of affordability and the cost of living. Regardless, the annual fiscal plan included some returning and some newly expanded tax benefits. Active Families Benefit The 2026-27 budget included $8 million for the Active Families Benefit, meant to make children’s activities more affordable for Saskatchewan families. The benefit was doubled starting in the 2025 tax year. In previous tax years, eligible families with an income of $60,000 or less received a tax benefit up to $150 per child, or $200 per child with a disability. Now, the refundable tax benefit is $300 per child, or $400 per child with a disability, available to families with a total income of $120,000 or less. Sporting activities, recreational activities, and cultural activities offered by a service provider in Saskatchewan are all eligible. Families are required to fill their personal income tax return with the CRA to claim the benefit. Graduate Retention Program The budget included $68 million for the Graduate Retention Program. The program allows graduates of post-secondary institutions in Saskatchewan to claim up to $24,000 in tax credits distributed over a seven-year period if they choose to stay in the province to work. However, the unused amounts can be carried forward for up to 10 years if the credit exceeds the tax owed. The maximum tax credit increased from $20,000 to $24,000 in 2025. Those who are eligible must full out the application and submit a copy of their certificate and supporting documents to the province. When filing your taxes, you are required to include a copy of your Graduate Retention Program certificate to receive your tax credit. You only need to submit the certificate the first time you file for the program. Home Renovation Tax Credit The budget included $15 million for the Home Renovation Tax Credit. The tax credit allows homeowners to claim a non-refundable tax credit at a rate of 10.5 per cent on eligible expenses on their primary home. According to the province, homeowners can claim a maximum of $4,000 in eligible expenses annually, and seniors can claim an additional $1000 in eligible expenses annually. Examples of eligible expenses include painting the exterior or interior of a house, re-shingling a roof, electrical wiring upgrades, home renovations, building a garage or deck, and associated costs with installation, permits, and the like. For a full list of what is and is not eligible, Saskatchewan residents can visit the Home Renovation Tax Credit information page. Those who have eligible expenses can claim the credit on their tax return, which must be supported by receipts or invoices. Labour-Sponsored Venture Capital Tax Credit The budget included $12 million for the Labour-Sponsored Venture Capital Tax Credit. The tax credit allows Saskatchewan residents to invest in businesses by purchasing shares in funds, which are meant to help Saskatchewan companies grow. According to the province, the tax credit is 32.5 per cent on the first $5,000 you invest each year. Residents are required to hold their money in the Labour-Sponsored Venture Capital Corporation Fund for a minimum of eight years, or they will be required to repay the tax credits. Pool funds are available to any Saskatchewan resident who wants to invest in a business. Employee investment funds are available for employees to invest in the company where they work to help establish an employee ownership program.
