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Saskatchewan 2017 Budget
Canadian Tax and
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Employee's Tools Tax Credit, eliminated for 2017 and later taxation
Labour-sponsored Venture Capital Tax Credit rate will be reduced from
20% to 15% for the 2018 taxation year.
Tax Rate Increases:
Tobacco Tax rates increase by 2 cents per cigarette effective March
Corporation Capital Tax rate on large financial institutions increases
from 3.25% to 4.0% effective April 12, 2017.
Liquor mark-ups increase April 1, 2017 by 6.8% for most beer products,
6% for most coolers, 5.3% for most wines and 4% for most spirits.
Education Property Tax mill rates increased for 2017.
Personal Income Tax Rateswill be reduced in half-point increments
effective July 1, 2017 and July 1, 2019. This will result in the rates
being reduced in 1/4 point increments each year for 2017 to 2020.
The enhanced dividend tax credit
rate for eligible dividends is reduced by 1/4 point increments each year
from 2017 to 2020, so that the rates will be 10.75% for 2017, 10.5% for
2018, 10.25% for 2019, and 10% for 2020.
Saskatchewan Commercial Innovation Incentive will offer a 6%
corporate income tax rate on income earned from the commercialization of
qualifying intellectual property in Saskatchewan.
Research and Development Tax Credit will be reformed effective
April 1, 2017, targeting smaller and medium-sized innovation companies with
a refundable tax credit, while putting a cap on the existing non-refundable
Investment Tax Credit Rate for capital acquisitions for use in
manufacturing and processing is increased to 6% effective March 23, 2017.