Highlights of the 2017 Saskatchewan Budget | KPMG | CA

Highlights of the 2017 Saskatchewan Budget

Highlights of the 2017 Saskatchewan Budget

Saskatchewan Finance Minister Kevin Doherty delivered the province’s 2017 budget on March 22, 2017.

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Saskatchewan Finance Minister Kevin Doherty delivered the province’s 2017 budget on March 22, 2017. The budget forecasts a deficit of $1,288 million for the 2016-2017 fiscal year. The budget also projects deficits of $685 million for the fiscal 2018 year and $304 million for fiscal 2019. It projects a surplus of $15 million for 2020.

 

The budget lowers both corporate and personal income tax rates over four years starting in 2017, but increases the provincial sales tax (PST) rate to 6% (from 5%), effective March 23, 2017. It also expands the PST base and eliminates some exemptions. In addition, the budget introduces a refundable R&D tax credit for small and medium sized companies, and a patent box regime for the commercialization of intellectual property in Saskatchewan.

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