January 3, 2018
For Immediate Release
January 3, 2018
Government of Saskatchewan tax changes applauded by the Saskatchewan Chamber of Commerce.
On December 28th, 2017, the Saskatchewan government announced that Saskatchewan small businesses will benefit from the highest income threshold in Canada. Furthermore, individual taxpayers will continue to benefit from the lower personal income tax rates which were introduced in July 2017, resulting in savings of more than $120 million in 2018.
The Saskatchewan Chamber of Commerce applauds these decisions by the Saskatchewan government as positive moves for the Saskatchewan economy and for small businesses operating in the province.
“We congratulate the government on taking steps to further improve competitiveness and contribute to a positive taxation climate in our province,” said Steve McLellan, CEO of the Saskatchewan Chamber of Commerce.
The small business threshold has been increased from $500,000 to $600,000, effective January 1, 2018. The personal income tax rate dropped half a percentage point in July 2017, and will drop another half point in July, 2019.
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