Saskatchewan's Bill 89, which includes a measure to extend the province’s temporary small business income tax rate reduction by one year, received first reading on November 2, 2022. Specifically, Bill 89 retroactively extends the reduced small business income tax rate of 0% to June 30, 2023 (from June 30, 2022), and similarly delays further scheduled increases so that it does not return to its original rate of 2% until July 1, 2024 (instead of July 1, 2023). The province previously announced that it would introduce this extension, along with a new Saskatchewan Affordability Tax Credit and other measures on August 23, 2022 (see TaxNewsNow, “Saskatchewan Extends Small Business Tax Relief and More”).

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