The Saskatchewan Chamber of Commerce approves of tax change decisions made by the provincial government.
In a recent release, the chamber said, on Dec. 28, 2017, the Saskatchewan government announced 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, states the release.
“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 Jan. 1, 2018. The personal income tax rate dropped half a percentage point in July 2017, and will drop another half point in July, 2019.
