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Saskatchewan 2015 and 2016 Personal Marginal
Income Tax Rates
The Federal tax rates for 2016 are as per Bill
C-2 tabled in December 2015. The Saskatchewan and Federal tax brackets and personal
amounts were increased for 2016 by an indexation factor of 1.013.
Saskatchewan uses the Federal indexation factor. The indexation
factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency
information.
The Saskatchewan 2016 Budget indicated that legislation will be revised so that
the 2016 dividend tax credit rate for non-eligible dividends remains at 3.4% of
the taxable dividend. Bill
22, which received Royal
Assent on June 30, 2016, revised the rate to 23.173% of the federal
gross-up, resulting in a tax credit of 3.367% of the taxable dividend.
SK Finance has confirmed that this will not be rounded to 3.4% on tax
forms. This is reflected in the rates below.
Saskatchewan
Personal Income Tax Brackets and Tax Rates
2016
Taxable Income
2016
Tax Rates
2015
Taxable Income
2015
Tax Rates
first $44,601
11%
first $44,028
11%
over $44,601 up to
$127,430
13%
over $44,028 up to
$125,795
13%
over $127,430
15%
over $125,795
15%
Combined Federal
& Saskatchewan Tax Brackets and Tax Rates
2016
Taxable Income
2016
Marginal Tax Rates
2015
Taxable Income
2015
Marginal Tax Rates
Other
Income
Capital
Gains
Canadian
Dividends
Other
Income
Capital
Gains
Canadian
Dividends
Eligible
Non-Eligible
Eligible
Non-Eligible
first $44,601
26.0%
13.00%
-0.03%
14.17%
first $44,028
26%
13.0%
-0.03%
13.67%
over $44,601 up to
$45,282
28.0%
14.00%
2.73%
16.51%
over $44,028 up to
$44,701
28%
14.0%
2.73%
16.03%
over $45,282 up to $90,563
33.5%
16.75%
10.32%
22.95%
over $44,701 up to $89,401
35%
17.5%
12.39%
24.29%
over $90,563 up to
$127,430
39.0%
19.50%
17.91%
29.38%
over $89,401 up to
$125,795
39%
19.5%
17.91%
29.01%
over $127,430 up to $140,388
41.0%
20.50%
20.67%
31.72%
over $125,795 up to $138,586
41%
20.5%
20.67%
31.37%
over $140,388 up
to $200,000
44.0%
22.00%
24.81%
35.23%
over $138,586
44%
22.0%
24.81%
34.91%
over $200,000
48.0%
24.00%
30.33%
39.91%
Marginal tax rate for dividends is a % of actual
dividends received (not grossed-up amount).
Non-eligible dividend tax credit rate revised slightly August 18,
2016 to reflect revised rate as per Bill 22.
Marginal tax rate for capital gains is a % of total capital gains
(not taxable capital gains).
Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is
17% in 2016, 18% in 2015.
For more information see Saskatchewan
dividend tax
credits.
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