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.
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
Reed Security Headquarters
306.653.3200 or 1.844.384.SAFE (7233)
PRINCE ALBERT SECURITY
SP&T News, Canada's #1 magazine for security dealers and integrators recently interviewed Virgil Reed.
Before founding Reed Security, a Saskatoon-based business that offers custom-designed alarm systems and high-definition video surveillance, Virgil Reed got his first taste of the security industry working as commercial sales representative for ADT Security back in 1998.
Though he appreciated the vital lessons that he learned from the company, Reed decided to follow his dream of starting his own company.
Founded in 2000, Reed Security started out as an authorized dealer for another company for five years before making another change.
“After five years of being a dealer, we became an independent — and it was the greatest choice I ever made,” Reed said in an interview with SP&T News.
Read the full article: https://www.sptnews.ca/reed-security-celebrates-20-years/
To Our People - Clients, Dealers, Staff and Community,
At Reed Security we're paying attention to the COVID-19 pandemic outbreak. It's unsettling and share the same concerns as you.
We have increased measures to Reduce the Spread. We encourage you to consult these trusted sources before making
any decisions or disseminating any information:
- As of today none of our employees have traveled to a country or area
with an “Active Travel Health Notice” per Public Health Canada. If an employee did we would not allow the person to return to work until the
end of the mandatory government recommended self-quarantine - which is
currently 14 days.
- If you (employee) travel outside of Saskatchewan please consult a government
website to assess the risk level and current protocols for your trip and
return. All travel outside of Saskatchewan should be disclosed to the
office for the safety of all employees and our clients.
- If you (employee) are faced with self-isolation and do not have adequate
supplies please let us know and we will do our best to assist you.
- If you have upper-respiratory symptoms (headache, coughing, fever,
other flu-like symptoms), please notify us and stay home; and we recommend
you consult a doctor and a trusted information source to determine
the best next steps.
- As of today most clinics and doctors offices request that you call
first if you think you have COVID-19 so that they can be prepared for
- Please do not come to work within 24 hours of having symptoms of a
cold or flu.
- If a household member is symptomatic, but unconfirmed COVID-19
please consult a professional and use your best discretion in deciding
when it’s safe to return to work.
- Should you (employee) require self-isolation or extended time off for illness
please contact Employment Canada about benefits.
- If you (employee) are confronted with someone who is COVID-19 symptomatic please
maintain a safe distance of at least 2 meters or 6 feet, as always you
have the right to refuse work that you think is unsafe.
- While we are extremely happy with the job our cleaning staff does
we have requested they increase their current cleaning to include
wiping down public surfaces with alcohol based wipes.
- Our goal is to reduce the staff in the office at any given time by 20%. Please discuss work from home or reduced in office days with your manager.
REDUCE THE SPREAD
- Wash your hands frequently with soap and water for at least 20
seconds, and especially after using the restroom and before eating.
- Use an alcohol-based hand sanitizer, wherever available.
- Avoid touching your nose, mouth, and eyes.
- Avoid shaking hands, hugging, or other personal contact.
- If you need to cough or sneeze, cover your nose and mouth with a
tissue or your bend of your elbow.
- Wipe down your cell phone with alcohol based wipe several times
- Once per day wipe down public surfaces with an alcohol based wipes.
This includes the front counter, light switches, door knobs, proximity card readers,
and security system keypads.
- Everyone (including clients) is required to wash their hands before
and after using our boardroom.
- Do not share computers, desks or phones.
- Where possible do not share tools or van space.
- Anyone can be denied entry into our office, or asked to leave the
office if they are displaying symptoms that make our staff feel unsafe, a
sign will be posted to indicate this at the front door of our office.
INCREASED FIELD STAFF MEASURES MARCH 16TH, 2020
- Field staff are our sales representatives and technicians.
- Field staff are to have hand sanitizer and disinfectant wipes with them.
- Field staff should wash or sanitize our hands Before, During and After a site visit.
- Technicians should wipe down equipment that multiple people touch at the end of an installation. (i.e Keypads, Proximity Card Readers, Monitors, Keyboards, Mouse’s, etc.)
- Field staff are to ensure they are not exhibiting any symptoms as outlined by the trusted sources listed above before coming to work.
- Do not come to work within 24 hours of experiencing COVID-19 symptoms.
- If you traveled outside of Saskatchewan, you must disclose it to management.
- Do not share vehicles as much as possible.
- Wipe down steering wheels, gear shifters, keys, radios, interior door handles, etc… with disinfectant wipes regularly.
- If you have a cough or sneeze, please remove yourself from the area, cough/sneeze into a tissue or the bend of your elbow. Wash/sanitize your hands (especially in the presence of others).
UPDATED COVID-19 MEASURES MARCH 16TH, 2020
- All employees are to stay at least one meter apart.
- Please wash your hands before entering and after exiting the lunch room and board room.
- All employees are to eat lunch at their desks. You may use the lunch room to prepare or store your lunch but no lingering.
- Daily huddles and weekly meetings should take place via Zoom app if you cannot maintain the one meter safe distance.
- We are wiping down of all “public” surfaces once per day. All office should help (we have a checklist).
Employees that have been approved to work from home must submit the following:
- A photo of their home work space including the computer/technology you plan to use at home.
- Confirmation you can access your desktop computer via ZOHO Assist. Geoff and Garrett can help you set this up.
- Confirmation of how you intend to take and make phone calls.
i.e. my cell number is this please forward calls to my cell and I will call people back from my cell
- No files, paper or inventory should be removed from the office. If you require a document SCAN IT and SAVE IT to your Office 365 One Drive.
- Sales Team can take documentation you are actively working on home, but you must leave an itemized list on your desk of what you are removing from the office.
Permanent Work Changes:
- All contracts, maps, security drawings, JIFC Forms and client related paperwork are to be scanned and uploaded to the client MKS file. If you need a reminder how to do this please ask.
- Use ZOHO Assist to access your Desktop PC remotely.
- All WO and WO related materials should be photographed and emailed to the office to be stored digitally in the client MKS file.
Temporary Work Changes:
- The Admin Team will continue to file, however we will file in a weekly rotation i.e. new empty bin will be put out each Monday subsequently the old bin will be removed and filed sometime that week. This is to allow a 48 hour “cooling off" period for all files.
- If you require a file that is in a bin please wash or sanitize your hands before and after looking for the file.
- If you require a file that is at another employee's desk please have them have them retrieve it for you. If this isn't possible please wash or sanitize your hands before and after looking for the file.
The Management Team at Reed Security is reviewing the situation daily. We will provide additional updates when available.
Today Reed Security is officially celebrating our 20th Anniversary!
When we started on March 10th, 2000 the security industry was booming and the competition was fierce. The big companies had successful door to door programs and the telephone company (SaskTel) started in the security business. 20 years later the door to door programs are still persistent and even more telephone companies (Bell, Telus/ADT) offer home and business smart security. The competition has never been greater!
"I'm proud of the business we've (not I) built. 20 years ago nobody knew who we were and we had 0 (zero) customers. Today, 5000+ homes and businesses trust Reed Security for their protection. We are a strong LOCAL brand you can Trust. What makes us different? Easy, it's our People, Culture and sense of Community!
Thank you to our Clients for supporting us for 20 years. Without you we wouldn't exist.
Thank you to all our People - staff and dealers for Caring for each other and our Clients. You make it easy.
Looking forward to another 20!"
#wecare #community #thankful
Every year 30,000+ Security Geeks (oops...Gurus) attend the biggest security expo in North America - ISCWest. Charge!
We connected with suppliers to negotiate the best pricing and brought the latest smart home and smart business technology back for our Clients and Dealers. Would you rather deal with the Dinosaurs that never change or the People that believe in Innovation?
The biggest advantages of using these sister product lines are integration and one app to control your security solutions. True convenience!
Senior Account Executive, Geoff Assman (right), connected with Kantech Field Application Specialist, Tom Giftochristos, to review the new features in Kantech EntraPass v8.0 including mobile app enhancements and a redesigned web interface. NEW: Reed Security now offers Kantech Hattrix cloud-based access control. No server or up front software costs + no backups required. Conveniently manage your locations from your smartphone or desktop. Requires high-speed internet at the secured premises. Contact us for pricing details. Automatic Systems has a fence barrier solution that ties into keyless entry systems. Restrict traffic in and out of your compound. Check out the video. We visited our partner HIKvision with our Brand Ambassadors, Rain and Meadow. What's more fun than demoing HIKCentral Management software on four 65" screens?
HikCentral is a video business intelligence solution that provides features such as facial recognition, face matching and searching and people counting. Businesses can improve efficiencies and reduce costs.
Using deep learning technology, AcuSense detects humans and vehicles and filters out unwanted false alarms.
When a human or vehicle is detected a strobe light and audible alarm are triggered - a huge deterrence for unwanted visitors.
Instant alerts can also be sent to your smartphone.
All objects with a temperature above absolute zero emit thermal
radiation, even at low levels.
This kind of radiation, invisible to the human eye, can be detected by
thermal imaging sensors.
Thermal Cameras can produce images in
the visual spectrum by detecting temperature differences between
an object and its surroundings. The larger the difference, the bigger
the contrast variety, making details visible. Thermal cameras can be used for applications in more
challenging environments to detect people and fire.
Our partner Avigilon released ACC 7 video management software featuring Focus of Attention, a cutting-edge user interface for live video monitoring. It uses AI-powered self-learning analytics and Unusual Motion Detection technologies to help ensure critical events don't go unnoticed. Over 5 million people trust ALARM.COM installation partners such as Reed Security to protect their homes and businesses. From one single smartphone app you can control your smart security system, smart lights, smart locks, smart garage doors, smart thermostat, HD cameras, wi-fi doorbell camera and more...
COMING SOON: 16 channel commercial Stream Video Recorder
Alarm.com's video analytics engine provides an intelligent new layer of security and awareness for home and business owners.
Object classification and object tracking technology can distinguish between People, Vehicles and Animals, determine an object's direction of movement, and measure the duration of activity. Alarm.com subscribers can selectively control and manage notifications and assign virtual zones and multi-directional "tripwires" so they can monitor their properties for highly specific activity.
*Vehicles coming and going: Know when a vehicle stops outside your home during the daytime, or if a vehicle leaves unexpectedly overnight.
*Lingering Visitors: Get a video alert if someone lingers by your front door, but not when the mail is delivered.
*Pet Protection: Know which neighbor's dog has been visiting your lawn. Know immediately if your own pet bends the rules and naps on the couch when you're at work.
*Automated Deterrence: Set your lights and other home automation scenes to turn on when a person enters your backyard, but not when an animal enters.
*Vendor Validation: Business managers can confirm that a delivery truck pulled into the loading dock, but won't be notified each time a customer exits the building.
NOW AVAILABLE: Video analytics now work with ADC-V522IR indoor wi-fi camera, ADC-722W wi-fi bullet camera, ADC-VC726 poe mini bullet camera, ADC-VC736 poe bullet camera, ADC-VC826 poe dome camera and ADC-VC836 poe turret camera. Requires a video analytics plan subscription.
SHIPPING SOON: Interlogix Simon XTi5i has a an updated display that matches with the Alarm.com app. Now supports 80 wireless zones.
Ring.com displays a solar powered security camera. Perfect where no power is available. Not available for sale yet on their web site.
The smartest security and automation on the block goes commercial.
Our partner Qolsys now has a UL 1610 Certification for Commercial Burglar detection. This cutting-edge system is the perfect solution for small businesses!
Features include: 7" HD touchscreen, up to four partitions, screen lock, 6-digit passcodes, support for PowerG sensors (industry best range of 1.6km open air), disarm photos and secondary keypads.
The 2.3 Commercial software update also enables Alarm.com for Business, the industry’s leading interactive services platform integrating smart business security, access control, smart video monitoring and energy management technology.