Saskatchewan -> Dividend Tax Credits
Saskatchewan Dividend Tax Credits
Saskatchewan Dividend Tax Credit for Eligible Dividends
SK Income Tax Act, 2000 s. 32
Saskatchewan eligible dividend tax credit rates are defined as a percentage of the Federal gross-up amount.
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.
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, as a result of the increases in the small business corporate income tax rate effective July 1, 2022 and July 1, 2023.
The current and past Saskatchewan rates for non-eligible dividends are shown in the following table.
The Saskatchewan table of marginal tax rates shows the marginal tax rates for eligible and non-eligible dividends and other income.
Revised: April 21, 2021
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