New & Noteworthy

HOME SECURITY TAX CREDIT

Source: Saskatchewan.ca

Home Renovation Tax Credit

Home Security Systems, Devices and Professional Installation qualify. Monthly fees do not.


Under this non-refundable tax credit, Saskatchewan homeowners may save up to $2,100 in provincial income tax by claiming a 10.5 per cent tax credit on up to $20,000 of eligible home renovation expenses. Eligible expenses include the cost of labour and professional services, building materials, fixtures, equipment rentals, and permits.

This tax credit will be administered by the Canada Revenue Agency (CRA) as part of the Saskatchewan personal income tax system. CRA will develop the necessary forms and filing instructions in the coming months.


1. To Qualify

  • Renovations must be to your principal residence, which must be located in Saskatchewan.
  • Renovation expenses must be incurred between October 1, 2020, and December 31, 2022.
  • The renovation must be substantially completed by December 31, 2022.
  • At the time of the renovation(s), you must own, alone or jointly with another person, the housing unit (or share of the capital stock of a co-operative housing corporation that you acquired solely for the right to inhabit the housing unit owned by that corporation).
  • You, your current or former spouse or common-law partner, or any of your or your spouse/common-law partner's children must ordinarily inhabit the housing unit during the eligibility period.
  • In general, renovations must be of an enduring nature and integral to the dwelling or to the land that forms part of the dwelling. Land of one-half hectare or 1.24 acres, including the land upon which your housing unit stands and any portion of the adjoining land, will generally be considered part of your eligible dwelling for purposes of this tax credit.


2. Claim Credit on Tax Returns


Claim the credit on your 2021 and/or 2022 personal income tax returns:

  • Total qualified expenses incurred between October 1, 2020, and December 31, 2021, in excess of $1,000 (base amount), but not more than $12,000 can be claimed on your 2021 tax return (maximum claim of $11,000 for 2021).
  • Total qualified expenses incurred between January 1, 2022, and December 31, 2022, in excess of $1,000 (base amount), but not more than $10,000, can be claimed on your 2022 tax return (maximum claim of $9,000 for 2022).
  • The tax credit can be split among eligible family members, but the total amount claimed cannot exceed the maximum allowable. Eligible family members include you and your spouse or common-law partner and you or your spouse/common-law partner's children who are under 18 years of age at the end of 2021.
  • If you sell and purchase an eligible dwelling during the eligibility period, qualified expenses that you incur for both dwellings will be eligible (however, each dwelling must have been your permanent residence at the time the renovations occurred). The maximum total of qualified expenditures that you can claim is $20,000.
  • If you earn rental or business income from part of your eligible dwelling, you can only claim the amount for expenses incurred for the personal-use areas of your dwelling. For expenses incurred for common areas or that benefit the housing unit as a whole (e.g., re-shingling a roof), divide the expense between personal use and income-earning use and claim the personal-use portion.
  • Example of splitting the tax credit between family members: You and your spouse enter a contract for the purchase and installation of a new furnace after October 1, 2020, and pay $9,500 for this renovation. On your 2021 tax return, calculate the tax credit as follows: Total qualified expense of $9,500, less the $1,000 base amount = $8,500. Either you or your spouse can claim the entire $8,500 or you can each claim a portion of it. For example, if you claim $3,500, your spouse can claim the remaining $5,000.

3. Documentation

Eligible expenses must be supported by documents such as receipts or invoices and should clearly identify:

  • the vendor/contractor including business address and (if applicable) their GST/HST registration number
  • the type and quantity of goods purchased and/or services provided
  • the dates when the goods and/or services were purchased or delivered
  • Invoices must by marked "paid" or be accompanied by other proof of payment such as credit card slips or cancelled cheques.

4. Eligible Expenses

Examples of eligible expenses:

  • painting the interior or exterior of a house
  • re-shingling a roof
  • kitchen, bathroom, and/or basement renovations
  • flooring (carpet, linoleum, hardwood, laminate, etc.)
  • windows and/or doors
  • furnace, boiler, woodstove, fireplace, water softener, water heater, and/or oil tank
  • central air conditioner
  • permanent home ventilation
  • permanent reverse osmosis system
  • septic system and/or wells
  • electrical wiring upgrades (e.g., changing from 100 to 200 amps)
  • home security system (monthly fees do not qualify)
  • solar panels and panel trackers
  • building a garage, deck, fence, garden/storage shed, and/or an addition to your home
  • building a new driveway and/or retaining wall (or resurfacing a driveway)
  • exterior shutters and awnings
  • pool liners and/or solar heaters and heat pumps for pools (does not include solar blankets)
  • landscaping (e.g., sod, perennial shrubs and flowers, trees, large rocks, permanent garden lighting, permanent water fountain, permanent ponds, large permanent garden ornaments)
  • fixtures (e.g., blinds, shades, shutters, lights, ceiling fans)
  • electronic devices that are installed as a fixture and are necessary and primarily used to operate another eligible expenditure (e.g., a device that is a fixture and is necessary and primarily used to operate solar panels, air conditioning systems, home security devices, or ventilation systems)
  • associated costs to the above such as installation, permits, professional services, equipment rentals, and incidental expenses (e.g., work performed by electricians, plumbers, carpenters, architects, etc. will generally constitute an eligible expense)
  • for condo owners and co-operative housing corporation members, your share of the cost of eligible renovations to common areas will qualify for the tax credit if certain conditions are met (see Information Bulletin for more details)

5. Ineligible Expenses

Examples of expenses which are not eligible:

  • renovations to a cottage or cabin unless it is your principal residence
  • the value of your own labour for do-it-yourself projects
  • payments to a close relative or other person not at arm's length, unless that person is registered for GST purposes
  • routine repairs and maintenance typically performed on an annual or more frequent basis
  • maintenance contracts (e.g., furnace and/or pool cleaning, snow removal, lawn care, etc.)
  • appliances, furniture, draperies, hot tubs, and mechanical items not considered an enduring addition to your home (e.g. fridges, stoves, couches, etc.)
  • TVs, computers, tablets, smart devices, speakers, streaming devices, cellphones, gaming systems, and other audiovisual electronics
  • items that have a value independent of the renovation, such as construction equipment and/or tools
  • any financing costs (e.g., interest payments) associated with the renovation(s)


Contact us today for a No Obligation, 20 minute Smart Home/Business Evaluation or call 1.844.384.7233


SASKATOON SECURITY 

Reed Security Headquarters

306.653.3200 or 1.844.384.SAFE (7233)

SuRe InnoVations

306.974.0888

PRINCE ALBERT SECURITY

306.922.7200

REGINA SECURITY

306.206.0700

CALGARY SECURITY

587.393.2800

EDMONTON SECURITY

855.424.2324




WE'RE CLOSED EARLY CHRISTMAS EVE AND NEW YEAR'S EVE

HOLIDAY SECURITY TIPS 2020



SHARE INFORMATION 

  • Let your neighbours know if there is unusual activity or crime on your block.
  • Join your local Neighbourhood Group on Facebook and learn about recent activities.
    eg: Stonebridge Neighbourhood Watch
  • Share video and images from your doorbell camera or security cameras.
  • Share information with the Police as it may help with an arrest.




BE SMART

  • Ask all strangers for identification. The person who is “lost” and looking for directions could actually be a burglar checking to see if someone is home.
  • If you lose a key, then get the locks changed.
  • A better alternative is to eliminate keys altogether by installing an Alarm.com smart lock with built in keypad.
  • DO NOT advertise on Facebook or Instagram that you are travelling. You may think you’re letting your friends and family know you’re having a great time, but people often forget to change their privacy settings. If you like to post photos - post them after you get back.





LOCK YOUR DOORS AND WINDOWS

  • Make sure all doors and windows are locked. 
  • Many burglars go door to door looking for targets that forgot to lock their front doors and vehicle doors.
  • Install monitored door and window sensors.
  • When your security system is "armed" an instant alert is sent to your smartphone and our 24/7 Monitoring Stations.




 
USE PROPPER LIGHTING

  • Burglars target unoccupied homes so keep your home well lit at night.
  •  Install timers that turn lights, radios and televisions on at different times. This gives the appearance that someone is home. 
  • A better option is to install Alarm.com smart lights and smart appliance modules and setup on an alternating schedules.





INSTALL A SMART SECURITY SYSTEM

  • You are 400% less likely to have a break-in and can qualify for an insurance discount up to 25%.
  • 24/7 Monitored Protection from intrusion, fire, flood, low temperature, and carbon monoxide
  • Includes Police / RCMP and Fire Department dispatch and Call List notification
  • $0 Smart Security Sale


$0 Smart Security packages range from $34.95/mo. to $79.95/mo. 

We do not provide exact pricing on our web site as we customize our solutions to your needs.

Instead we offer a No Obligation, 20 minute Smart Home/Business Evaluation with an experienced Reed Security Consultant.

  • We listen carefully to your needs
  • We identify the proper solution
  • We educate you how smart technology works
  • We provide a written quotation
  • We answer your questions
  • You decide if we are the right option – we will not pressure you!
  • We book your professional installation


Contact us today for a No Obligation, 20 minute Smart Home/Business Evaluation or call 1.844.384.7233


SASKATOON SECURITY 

Reed Security Headquarters

306.653.3200 or 1.844.384.SAFE (7233)

SuRe InnoVations

306.974.0888

PRINCE ALBERT SECURITY

306.922.7200

REGINA SECURITY

306.206.0700

CALGARY SECURITY

587.393.2800

EDMONTON SECURITY

855.424.2324


#supportlocal #wecare #reedsecurity

$0 HOLIDAY SALE ON COLORVU CAMERAS!

The problem with most security cameras is that the quality at night is poor!

Take a look for yourself:


EXIR NIGHTVISON: THE INFRARED ILLUMINATOR ALLOWS THE CAMERA TO SEE IN THE DARK, BUT THE IMAGE QUALITY IS POOR. THE IMAGE IS CLEAR HD QUALITY DURING THE DAY.


REEDHD™ ColorVu uses an ultra low light sensor and a built in spotlight to see in full color at night.

Take a look at the same scene with REEDHD™ ColorVu:



REEDHD
 COLORVU NIGHTVISION: THE BUILT-IN SPOTLIGHT ALLOWS THE CAMERA TO SEE IN FULL COLOR AT NIGHT AND THE IMAGE QUALITY IS IMPROVED. THE IMAGE IS CLEAR HD QUALITY DURING THE DAY.


And, here's same
 REEDHD™ ColorVu security camera during the day: 



$0 HOLIDAY SALE ON COLORVU CAMERAS!

It's never been more affordable to keep an eye on your Home or Small Business.

Check on your property from anywhere with live + recorded HD video in color 24/7.

We're taking care of most of the up front costs + the First Month is FREE*.

Residential / Small Business Package includes:  

✅ 4x 5MP REEDHD™ Security Cameras with ColorVu Nightvision, 65 feet range
✅ 1x DVR with 14-30 days recording of all events
✅ 1x Smartphone and Desktop apps
✅ 1x Protected by REEDHD™ warning signage package
✅ 1x Professional installation
✅ 1x Silver Plan Parts & Labour Warranty

only $59.95/mo.

Expires December 31st, 2020.

For more information or to book an installation please Contact Us today. 

Call 306.653.3200 or 1.844.384.7233


THE FINE PRINT:

*Conditions apply.
*3 or 5 year subscription required. 
*$299 professional installation fee.
*High speed internet and 120 VAC power supplied by you. 
*
O.A.C. On Approved Credit.
*Available at participating dealers.
*Termination charges may apply for subscribers on existing plans.
*Taxes additional.

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LOCATIONS

Locations
SASKATOON
Reed Security Group (HEAD OFFICE)
14-1724 Quebec Avenue
Saskatoon, SK S7K 1V9
Ph: 306.653.3200

SuRe InnoVations
1701 Saskatchewan Avenue
Saskatoon, SK S7K 1P7
Ph: 306.974.0888
1.844.384.SAFE (7233)

Locations
REGINA
ViboPulse Services
Ph: 306.206.0700


Locations
PRINCE ALBERT
Thor Security Ltd.
1-243 South Industrial Drive
Prince Albert, SK S6V 7L9
Ph: 306.922.7200

Locations
CALGARY
Oxford Security Systems
#104, 150 Edwards Way NW
Airdrie, AB T4B 4B9
Ph: 587.393.2800

Locations
EDMONTON
Country Guard
Ph: 1.855.424.2324