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Saskatchewan government introduces affordability act with personal income tax savings

  • Jeremy Simes

  • Canadian Press

  • December 2, 2024

Saskatchewan Premier Scott Moe gestures while speaking during a press conference before Speech from the Throne in Regina, Monday, Nov. 25, 2024. THE CANADIAN PRESS/Heywood Yu

REGINA -- Premier Scott Moe's Saskatchewan Party government has introduced its promised legislation to lower personal income taxes.

The Saskatchewan Affordability Act states it will raise personal income tax exemptions while indexing tax brackets to match inflation.

The province says the measures, promised during the October election campaign, will save an average family of four more than $3,400 over four years.

An estimated 54,000 residents will not pay provincial income tax once the changes are in place.

The legislation also includes tax credits for first-time homebuyers and for home renovations.

The bill promises to increase tax credits for those with disabilities while also keeping the small business tax rate at one per cent.

This report by The Canadian Press was first published Dec. 2, 2024.