'Tis the season, you may as well take advantage of all the savings you can.
Tax season is upon us, and Saskatchewan people are being encouraged by the provincial government to take advantage of provincial credits as they fill out their returns.
"We provide a range of credits that can help Saskatchewan people keep more of what they earn," says Finance Minister Ken Krawetz.
Provincial tax credits include:
First-Time Homebuyers Tax Credit - A non-refundable income tax credit of up to $1,100, based on the first $10,000 of an eligible home purchase (a similar federal credit of up to $750 is also available).
Active Families Benefit - A refundable income tax credit of up to $150 per child 18 years of age or younger that helps Saskatchewan families with the cost of their children's participation in cultural, recreational and sports activities.
Graduate Retention Program - Income tax credits provided over a seven-year period that refund up to $20,000 of tuition fees paid by eligible post-secondary graduates who live in Saskatchewan and file a Saskatchewan tax return. For more information, visit the Saskatchewan Advanced Saskatchewan Low-Income Tax Credit - A refundable income tax credit paid quarterly to assist lower-income Saskatchewan people. The credit is paid in conjunction with the federal Goods and Services Tax Credit.
Employees' Tool Tax Credit - A non-refundable income tax credit that helps with the cost of purchasing, replacing or upgrading eligible tools by qualifying employees as a condition of their employment. The credit consists of a one-time trade entry amount and an annual maintenance amount.
Nobody likes forking over their hard earned dollars to taxes so now is our chance to save, save, save!
