Released on May 27, 2004
Learning Minister Andrew Thomson today introduced The Post-Secondary Graduate Tax Credit Amendment Act, 2004 that will increase the graduate tax credit from $350 to $500 this year, increasing to $1,000 by 2007. Once fully implemented in 2007, the enhanced Post-Secondary Education Tax Credit will exempt almost $9,100 of income from Provincial Tax for most new graduates."Our government committed to enhancing the graduate tax credit in the election campaign and we are keeping that promise," Thomson said. "This unique credit rewards our students for putting their education to work in Saskatchewan and demonstrates our commitment to post-secondary education."
The graduate tax credit, first implemented in 2000, is an innovative benefit designed to reward post-secondary graduates who choose to establish careers in Saskatchewan. Students who have graduated since January 1st, 2000 and have obtained employment in the province are eligible to apply for the credit in the amount that applies to the year in which they graduated.
"Keeping Saskatchewan students in the province is an important part of the government's new CareerStart program and increasing the graduate tax credit is an initiative that will help serve that goal," Thomson said. "Combining this initiative with others such as our Green Team Summer Employment Program and the Young Entrepreneurs of Saskatchewan Program provides tangible incentives for students to build their careers in Saskatchewan."
Since the graduate tax credit was initiated, the government has issued more than ten thousand certificates a year.
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