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Mar 25, 2023 · Of Saskatchewan's projected $19.7 billion in revenue, $9.6 billion is tax revenue, up $1.5 billion from the 2022-23 budget. Non-renewable resource revenues are projected at $3.3 billion, up $434 ...
Jul 12, 2023 · The Saskatchewan government extended the temporary zero per cent small business tax rate from July 1, 2022, through June 30, 2023. “It has served its purpose within the time frame it has been ...
Mar 23, 2022 · Taxes are going up in a number of areas, as outlined in Saskatchewan’s 2022-2023 budget, released Wednesday. Provincial Sales Tax. Effective Oct. 1, Saskatchewan residents will see a PST ...
- Brandon Harder
- 2023 Saskatchewan Budget Highlights
- Individuals
- Enhancement to The Saskatchewan Mineral Exploration Tax Credit
- Social Services and Assistance Measures
- Corporate Income Tax Rates
- Extension of Saskatchewan Manufacturing and Processing Exporter Tax Incentive
On March 22, 2023, Saskatchewan Minster of Finance, Donna Harpauer, released the province’s budget for the 2023-2024 fiscal year. We have highlighted selected budget measures that affect Saskatchewan individuals and small businesses.
Personal Tax Rates The budget did not propose any changes to personal income tax rates. Saskatchewan indexed the 2023 brackets at an inflation rate of 6.3%. Saskatchewan Income Tax Brackets and Tax Rates Top Combined Saskatchewan and Federal Rates Top rates apply to income over $235,675 ($221,708 for 2022) based on known federal and provincial rate...
The budget increases the provincial mineral exploration tax credit from 10 per cent to 30 per cent, effective for the 2023 taxation year.
The budget reduces childcare fees for families with children up to the age of six to $10 per day, effective April 1, 2023.Saskatchewan Income Support recipients will receive increases of $30 per month, specifically the Adult Basic Benefit, Shelter Benefit, and the Alternative Heating Benefit, Saskatchewan Assured Inco...The Personal Care Home Benefit will increase by up to $400 per month and SAID recipients under age 65 who live in personal care homes will receive up to $684 more per month.The budget did not change any corporate income tax rates or the $600,000 small business income threshold. The government had previously reduced the small business tax rate to 0% effective October 1, 2020 on a temporary basis. The small business corporate tax rate will increase to 1% on July 1, 2023 and increase to 2% on July 1, 2024 to return the t...
The incentive provides non-refundable tax credits to eligible corporations that increase the number of full-time employees above the baseline in 2014.The budget extends the incentive until December 31, 2023.Mar 22, 2023 · Saskatchewan budget 2023-24: By the numbers ... considering the 2022-23 budget saw PST applied to a brand new swath of items and areas. ... a $42.5 million funding increase will go “to the ...
2023 Tax Rate. 2022 Personal Amount (1) 2022 Tax Rate. $15,000. 15%. $14,398. 15%. (1) See the federal tax rates page for information on the enhanced federal personal amount, which increases the marginal tax rates for taxable incomes in the second highest federal tax bracket. The marginal tax rates in blue above have been adjusted to reflect ...
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Tax Alert 2023 No. 15, 23 March 2023. “Saskatchewan’s economy is leading the country in growth.”. “This budget builds that better quality of life by record investment in health care, education, social services, important infrastructure projects… and the security and safety of Saskatchewan people.”. Saskatchewan Finance Minister ...
