In the March 2012 budget, the Provincial Government announced an incentive for new rental construction that provides a tax rebate for developers. The Corporate Income Tax (CIT) Rebate will help to add 10,000 new rental units to the province by the end of 2016. This initiative is expected to increase the overall, purpose built rental market.
The incentive works by effectively reducing the provincial Corporate Income Tax (CIT) rate on a corporation's rental income from the general CIT rate to the small business tax rate. The rebate can be earned each year for up to 10 consecutive years after eligible rental units become available for rent and the corporation submits the appropriate documentation to receive that year's rebate.
Eligibility information and more details on the program are available here: http://www.socialservices.gov.sk.ca/H04-FS.pdf
Or contact : Contact the Saskatchewan Housing Corporation by calling the SHC office in Regina at 787-4177 or toll free at 1-800-667-7567, or by visiting SHC’s website at http://www.socialservices.gov.sk.ca/housing