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Saskatchewan   ->   Dividend Tax Credits

Saskatchewan Dividend Tax Credits

Saskatchewan Dividend Tax Credit for Eligible Dividends

SK Income Tax Act, 2000 s. 32

Saskatchewan's eligible dividend tax credit rate is defined as a percentage of the Federal gross-up amount.

     SK Dividend Tax Credit Rate for Eligible Dividends

Year Gross-up
Rate
%of Federal
Gross-up
% of Grossed-up
Dividend
% of Actual
Dividend
2018+ 38% 39.95% 11% 15.18%
2017 38% 39.039% 10.75% 14.83%
2012-16 38% 39.95% 11% 15.18%
2011 41% 37.83% 11% 15.51%
2010 44% 36% 11% 15.84%
2009 45% 35.44% 11% 15.95%

Saskatchewan's 2017 Budget announced that the dividend tax rate as a percentage of the taxable dividend would be reduced in 1/4 point increments each year from 2017 to 2020.  However, this was revised with their November 6, 2017 Bill 84, which received Royal Assent on November 7, 2017, which revised the 2018 rate from 38.132% of the gross-up (10.5% of the taxable dividend) to 39.95%, or 11% of the taxable dividend, for 2018 and subsequent taxation years.

Saskatchewan Dividend Tax Credit for Non-eligible Dividends

SK Income Tax Act 2000 s. 32

Saskatchewan's Bill 2, The Income Tax (Strong Recovery Small Business Tax Reduction) Amendment Act, 2020, which received Royal Assent on Dec 10, 2020, revised the non-eligible dividend tax credit rate for 2021 to 2024, as a result of the increases in the small business corporate income tax rate effective July 1, 2022 and July 1, 2023.

Saskatchewan's non-eligible dividend tax credit rate is defined as a percentage of the Federal gross-up amount.

     SK Dividend Tax Credit Rate for Non-Eligible Dividends

Year Gross-up
Rate
%of Federal
Gross-up
% of Grossed-up
Dividend
% of Actual
Dividend
2024+ 15% 25.773% 3.362% 3.866%
2023 15% 22.525% 2.938% 3.388%
2022 15% 16.14% 2.105% 2.421%
2021 15% 12.996% 1.695% 1.949%
2019/2020 15% 25.773% 3.362% 3.866%
2018 16% 24.162% 3.333% 3.866%
2016/2017 17% 23.173% 3.367% 3.939%
2014/2015 18% 22.29% 3.4% 4.01%
2012/2013 25% 20% 4.0% 5.00%
2011 25% 25% 5.0% 6.25%

The Saskatchewan table of marginal tax rates shows the marginal tax rates for eligible and non-eligible dividends and other income.

Revised: October 24, 2021

 

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