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Saskatchewan Budgets
All budget proposals are subject to legislative approval.
Saskatchewan 2024 Budget - March 20, 2024
Saskatchewan 2024 Budget on the SK website - for complete information.
 | 2024-25 projected deficit of $273.2 million, expecting to return to a surplus in 2025-26. |
| Small business tax rate of 1% extended until June 30, 2025, after which it will increase to 2% as previously planned. The dividend tax credit for non-eligible dividends has been revised for 2024 and later years, as well as the 2024 marginal tax rates for non-eligible dividends. |
| Saskatchewan Technology Start-up Incentive (STSI) program cap will be doubled from $3.5 million to $7 million annually as of April 1, 2024. The program has also been expanded to include startups developing clean technologies in Saskatchewan. The program's sunset date has been extended from March 31, 2026 to March 31, 2027. |
| Saskatchewan Petroleum Innovation Incentive (SPII) new application intake period will be extended for five years, to March 31, 2029. The funding cap will be increased from $30 million to $100 million in royalty credits rewarded. |
| Saskatchewan Critical Minerals Innovation Incentive (SCMII) is introduced. |
| Saskatchewan Commercial Innovation Incentive (SCII) extended by one year to June 30, 2025. |
| Oil and Gas Processing Investment Incentive (OGPII) extended by 5 years to March 31, 2029, and total funding cap increased from $370 million to $500 million. |
| Critical Minerals Processing Investment Incentive (CMPII) is introduced. |
| Multi-lateral Oil Well Program (MLWP) is introduced. |
| New measures announced to promote compliance with Saskatchewan's tax programs, including increased penalties effective October 1, 2024. |
Previous Budgets on the SK website
Saskatchewan 2023 Budget - March 22, 2023
Saskatchewan 2023 Budget on the SK website
| no personal income tax changes |
| Manufacturing and Processing Exporter Tax Incentive is extended until December 31, 2023 |
| Mineral Exploration Tax Credit increased from 10% to 30% |
| As previously planned, the small business corporate income tax rate will return to 1% on July 1, 2023 and 2% on July 1, 2024 |
Saskatchewan 2022/2023 Tax Changes
Saskatchewan's Bill 89, The Income Tax (Affordability) Amendment Act, 2022, which was tabled on November 2, 2022, delays the increase of the small business corporate income tax rate, leaving it at zero % until June 30, 2023.
This in turn delays the increase of the non-eligible dividend tax credit.
This was announced in a November 2, 2022 news release, and was initially announced in an August 23, 2022 news release.
Saskatchewan 2022 Budget March 23, 2022
| tobacco tax increases effective March 24, 2022:
| ||||
| provincial sales tax will be applied to admission and entertainment charges, following the federal GST treatment, effective October 1, 2022. | ||||
| education property tax (EPT) mill rates are being increased slightly | ||||
| temporary small business tax rate reduction to zero will return to 1% on July 1, 2022, and to 2% on July 1, 2023. | ||||
| effective April 4, 2022 the site commission rates for video lottery terminals (VLTs) will increase from 15% to 18%. | ||||
| Saskatchewan vapour products tax (VPT) will not be charged in Lloydminster, effective March 24, 2022. | ||||
| Effective April 1, 2022, sales of audiobooks will be exempt from PST. | ||||
| proposal is being developed to take over administration of, and all revenues from, the federal carbon tax backstop fuel charge. A plan will be announced in the fall of 2022. |
Saskatchewan 2022 Budget on the SK website - for complete information.
Legislation (all pdfs):
Bill 82, The Income Tax Amendment Act, 2022, Royal Assent May 18, 2022
Bill 83, The Tobacco Tax Amendment Act, 2022, Royal Assent May 18, 2022
Bill 84, The Provincial Sales Tax Amendment Act, 2022, Royal Assent May 18, 2022
Saskatchewan 2021 Budget April 6, 2021
Several bills have been tabled subsequent to the budget, and can be found in their Progress of Bills document. These include:
| Bill 28, The Active Families Benefit Act, 2021 |
| Bill 35 The Income Tax Amendment Act, 2021 |
| Bill 36 The Provincial Sales Tax Amendment Act, 2021 |
Projected Deficits
| 2021-22 Budget deficit forecast $2.6 billion |
| 2022-23 deficit $1.7 billion |
| 2023-24 deficit $1.2 billion |
| 2024-25 deficit $770 million |
| 2026-27 return to balanced budget expected |
Personal Tax Measures
| Active Families Benefit restarted, retroactive to Jan 1, 2021 |
| Home Renovation Tax Credit for 2021 and 2022 (see Dec 2020 Bill 1 - link below) |
| Non-eligible dividend tax credit rate reduced effective January 1, 2021, but increased for 2022 to 2024 |
Business Tax Measures
| Small business corporate tax rate will be increased to 1% effective Jul 1, 2022, and to 2% effective Jul 1, 2023. |
| Technology Startup Incentive extended for 5 years - eligible for a personal or corporate tax credit |
Other Tax Measures
| taxation of vapour products and heat-not-burn tobacco products |
| increases to Education Property Tax mill rates |
| road use fee for electric vehicles at time of registration to ensure fairness to all road users contributing to road maintenance and replacement |
Saskatchewan 2021 Budget on the SK website - for complete information.
Tax Changes Prior to the 2021 Budget
Saskatchewan's Bill 1, The Income Tax (Strong Recovery Home Renovation Tax Credit) Amendment Act, 2020, which received Royal Assent on Dec 10, 2020, created a Home Renovation Tax Credit.
Saskatchewan's Bill 2, The Income Tax (Strong Recovery Small Business Tax Reduction) Amendment Act, 2020, which received Royal Assent on Dec 10, 2020:
| reduced the Small Business corporate tax rate to 0% effective Oct 1, 2020. |
Saskatchewan COVID-19 Information and Support
Saskatchewan 2020-2021 Budget June 15, 2020
| Above link is to SK website |
| Personal Income Tax system to be indexed using the federal indexation rate beginning with the 2021 taxation year. |
| New incentive to encourage investment in the chemical fertilizer sector. |
| Extend the Manufacturing and Processing Exporter tax Incentive for an additional 3 years |
| Measures to ensure out-of-province e-commerce platforms collect and remit Provincial Sales Tax. |
| See budget link above for complete budget details. |
Bill 210, Income Tax Amendment Act, 2020 (pdf) - Royal Assent July 3, 2020.
Saskatchewan 2019-20 Budget March 20, 2019
| Above is link to SK website | ||||||||
| The only tax change is the introduction of new tax
credits for volunteer firefighters and volunteer emergency medical first
responders:
|
2018 Budget - April 10, 2018 - on SK website
| The non-eligible dividend tax credit rate will be revised to 3.333% of the taxable dividend (24.162% of the gross-up) for 2018, and to 3.362% of the taxable dividend for 2019 (25.773% of the lower 15% gross-up). |
| PST exemption for used light vehicles is being removed effective April 11. If a vehicle is traded in, the PST will only be paid on the difference in price between the trade-in and the purchased vehicle. PST will not be charged for used vehicles gifted between qualifying family members (spouses, parents or legal guardians, children, grandparents, grandchildren or siblings), and will not be applied to the private sale of used vehicles with a purchase price of $5,000 or less. |
| PST exemption for Energy Star appliances is being discontinued. |
| The planned personal tax rate reduction for 2019 has been "paused". |
Saskatchewan November 2017 Business Taxation Amendments
On November 6, 2017, Saskatchewan introduced Bill 84, An Act to amend The Income Tax Act, 2000 respecting Business Taxation (pdf). It received Royal Assent on November 7, 2017. This Act does the following:
| increases the general corporate income tax rate from 11.5% to 12% effective January 1, 2018 |
| increases the small business deduction threshold from $500,000 to $600,000 effective January 1, 2018 |
| revises the enhanced dividend tax credit rate for eligible dividends to 11% for 2018 and subsequent years. The Saskatchewan tax rate tables, and income tax calculators have been revised to reflect this change. |
2017 Budget - March 22, 2017
2016 Budget June 1, 2016 - on SK Finance site
| Active Families Benefit, a non-refundable credit, is to be terminated effective January 1, 2016 |
| Non-eligible dividend tax credit rate is to be maintained at 3.4% of the taxable dividend |
Bill 22 The Income Tax Amendment Act, 2016, which received Royal Assent on June 30, 2016, contains amendments for the above items.
2015 Budget March 18, 2015 - on SK Finance site
| Seniors' Drug Plan - income threshold lowered from about $80,000 to about $65,500. See Drug Plan on SK website. |
| Active Families Benefit will be income tested, available to families with net incomes below $60,000. |
| Graduate Retention Program will become a non-refundable tax credit - post-secondary graduates who stay in Saskatchewan will still be able to receive the full amount of their tuition back - up to $20,000 - through a reduction in their provincial income tax. |
| Employment Supplement is changing to keep the benefit affordable and still help families with younger children. |
| Research & Development Tax Credit will now be fully non-refundable and rate is being reduced from 15% to 10% of qualifying R&D expenditures. |
2014 Budget March 19, 2014 - on SK Finance site
| balanced budget | ||||||
| revised rate dividend tax credit for non-eligible dividends | ||||||
| special income tax reduction for credit unions to be maintained | ||||||
| for taxation changes see Budget 2014 Core Operational Plan (pdf) | ||||||
| Increased benefits for recipients of:
|
2013 Budget Summary - on SK Finance site
| 6th consecutive balanced budget for this government |
| No income tax changes were announced |
Saskatchewan 2012 Budget
2011 Budget Summary - on SK Finance site
Main tax changes:
- Basic personal, spousal and spousal equivalent amounts increased by $1,000 to $14,535 for 2011.
- Child amount increased by $500 to $5,514 for 2011
- Corporate tax rate for small businesses reduced from 4.5% to 2% effective July 1, 2011.
- Due to the reduction in the small business corporate tax rate, the dividend tax credit rate for non-eligible dividends will be reduced from 6% in 2010 to 5% in 2011 and 4% in 2012.
2010 Budget - on SK Finance site
No income tax changes were announced.
2009 Budget - on SK Finance site
2008 Budget
2007 Budget
Previous Budget Documents - on SK website
Revised: April 14, 2024