Home Renovation Tax Credit proposed by Sask. Party, the NDP proposes the wealth tax

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The Saskatchewan Party has pledged a new home renovation tax credit, while the NDP has said it will introduce a wealth tax as the election campaign unfolds in Saskatoon on Wednesday.Scott Moe, the leader of the Saskatchewan Party, said homeowners could claim a 10.5% tax credit on up to $ 20,000 of qualifying renovations under his proposed tax credit.

“In this year’s budget, we reduced the PST on the construction of new homes,” Moe said in a statement.

“We also want to offer a break to those who are repairing their existing home. This is exactly what this new home renovation tax credit does. “

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The tax credit would include permanent additions to an owner’s primary residence, but does not include items like furniture, appliances, spas, tools or maintenance, Moe said.

The cost of the program – which would run from October 1, 2020 to December 31, 2022 – is estimated by the Saskatchewan Party at $ 124 million.

The party said the maximum eligible amount that can be claimed until the end of 2021 is $ 11,000 and $ 9,000 for 2022.

Meanwhile, NDP leader Ryan Meili has said his wealth tax plan will bring tax fairness to the province.

“We can do better – and ask the wealthiest among us to help us ensure that every family has access to the health care they need, when they need it,” Meili said in a statement.

“It’s time for a tax plan that puts people first – not Saskatchewan. The old boys’ party club.

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Under Meili’s plan, a wealth tax of 1% would be applied to anyone with net worth over $ 15 million – defined as the total of financial and non-financial assets, less liabilities.

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The NDP said that according to figures received from the Parliamentary Budget Office, less than half a percent of Saskatchewanians would be affected by the proposed wealth tax, which would bring in an additional $ 120 million per year.

“We do not intend to make cuts in health and education, in fact, quite the contrary. We plan to invest in these and other key services, because that’s what we need to do now, ”Meili said.

“If we want this economy to recover, if we are to get through COVID-19 together, we absolutely have to invest now.”

Moe will end his campaign later today in the riding of Saskatoon Riversdale.

This seat was won by the NDP in the 2016 election by just over 250 votes.

Meili goes to Prince Albert to talk about health and infrastructure.

© 2020 Global News, a division of Corus Entertainment Inc.



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