Small business aid program now open for applications ckom.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ckom.com Daily Mail and Mail on Sunday newspapers.
Saskatchewan reduces tax rates, renews emergency payments and announces recovery rebates
December 10, 2020
Updated Dec 22: Details on the Strong Recovery Adaptation Rebate have been added.
Saskatchewan has rolled out a number of financial tools to help businesses weather through and recover from COVID.
Lower taxes
Legislation to reduce the tax rate for Saskatchewan small businesses over the next three years was introduced this week, making good on a commitment made by the government in the recent election.
Advertisment
Under this initiative, Saskatchewan’s small business corporate income tax rate dropped from two per cent to zero effective Oct. 1. Beginning July 1, 2022, the small business tax rate will move to one per cent. And on July 1, 2023, the small business tax rate will return to two per cent. The amount which small businesses can earn at the small business tax rate will remain at $600,000 the highest threshold in Canada.