Canadian Tax and
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Saskatchewan Budgets

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Saskatchewan -> Budgets

Saskatchewan Budgets

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.

    - no increases in rates of any provincial taxes.

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

bulletActive Families Benefit, a non-refundable credit, is to be terminated effective January 1, 2016
bulletNon-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

bulletSeniors' Drug Plan - income threshold lowered from about $80,000 to about $65,500.  See Drug Plan on SK website.
bulletActive Families Benefit will be income tested, available to families with net incomes below $60,000.
bulletGraduate 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.
bulletEmployment Supplement is changing to keep the benefit affordable and still help families with younger children.
bulletResearch & 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

bulletbalanced budget
bulletrevised rate dividend tax credit for non-eligible dividends
bulletspecial income tax reduction for credit unions to be maintained
bulletfor taxation changes see Budget 2014 Core Operational Plan (pdf)
bullet Increased benefits for recipients of:
- Seniors Income Plan
- Personal Care Home Benefit
- Saskatchewan Assured Income for Disability

2013 Budget - on SK Finance site

bullet6th consecutive balanced budget for this government
bulletNo income tax changes were announced

Saskatchewan 2012 Budget

2011 Budget - on SK Finance site

Main tax changes:

  1. Basic personal, spousal and spousal equivalent amounts increased by $1,000 to $14,535 for 2011.
  2. Child amount increased by $500 to $5,514 for 2011
  3. Corporate tax rate for small businesses reduced from 4.5% to 2% effective July 1, 2011.
  4. 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 announced.

2009 Budget - on SK Finance site

2008 Budget

2007 Budget

Revised: May 24, 2018


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