Postal Service Disruption | Interruption des services postaux

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Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.

Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.

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PROVINCE CUTS SMALL BUSINESS TAXES

Released on November 2, 2006

Saskatchewan has introduced a cut to small business taxes. Effective January 1, 2007 the Government is lowering the small business corporate income tax rate from 5 per cent to 4.5 per cent.

"By cutting small business taxes, we are providing further incentive for people to invest and do business in our province," Finance Minister Andrew Thomson said. "This change builds on the business tax cuts we introduced in the 2006 budget, and the 2 per cent cut to the PST announced last week, and further strengthens our position as one of the most competitive business environments in Canada."

The Government also introduced changes to the dividend tax credit (DTC). Effective for the 2006 taxation year, Saskatchewan will establish a new DTC on dividends received from larger corporations at a rate of 11 per cent. By increasing its DTC rate for larger businesses, Saskatchewan has now integrated with the changes announced in the May federal budget.

Effective for the 2007 taxation year, the DTC rate on dividends received from small businesses will drop from 8 per cent to 6 per cent to reflect Saskatchewan's lower small business corporate income tax rate.

"These changes to the small business tax regime will improve the tax competitiveness in our small business sector and further encourage businesses to expand," Thomson pointed out. "Our government has introduced some of the most significant tax reforms in Saskatchewan history. Personal income tax reform has provided significant tax reductions for Saskatchewan people and lowered our marginal income tax rates. This year's reduction in both corporate tax and sales tax result in a further tax saving of over $500 million annually when fully implemented.

"Our Government is working hard to make Saskatchewan the best place in Canada to live, work and raise a family."

Further details on the dividend tax credit and small business threshold changes are included in the attached backgrounder. Information is also available by calling Saskatchewan Finance at 1-866-862-6246.

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For More Information, Contact:

Mike Woods
Finance
Regina
Phone: 306-787-6578
Email: mwoods@finance.gov.sk.ca

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