Canada: Extended small business tax relief receives Royal Assent (Saskatchewan)
Saskatchewan's Bill 89 received Royal Assent
Saskatchewan's Bill 89 received Royal Assent
Saskatchewan's Bill 89, which includes a measure to extend the province’s temporary small business income tax rate reduction by one year, received Royal Assent on 14 November 2022.
Specifically, Bill 89 retroactively extends the reduced small business income tax rate of 0% to 30 June 2023 (from 30 June 2022), and similarly delays further scheduled increases so that it does not return to its original rate of 2% until 1 July 2024 (instead of 1 July 2023). For prior coverage, read TaxNewsFlash
The province previously announced that it would introduce this extension, along with a new Saskatchewan affordability tax credit and other measures, on 23 August 2022. Read TaxNewsFlash
Read a November 2022 report [PDF 212 KB] prepared by the KPMG member firm in Canada
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