Prince Albert’s business community is giving the provincial budget two thumbs up.
The budget titled Saskatchewan Advantage provides tax breaks to individuals, property owners and small businesses.
By July, the government plans to slash the small business tax rate from 4.5 per cent down to two. A measure they say will cost them about $80 million dollars annually.
“That’s the thing that really stood out,” said Joe Bexson, chairman of the Prince Albert and District Chamber of Commerce.
The tax cuts build on the momentum the business community already has going for it, Bexson said.
The region has had a couple record years of business start-ups and we’re coming off an announcement to reopen the mill, Bexson said.
“It’s just such a positive environment right now.”
The government is also raising the amount a person can make before having to pay income tax. The basic and spousal exemption amounts rise by $1,000 and $500 for dependent children.
It’s encouraging, said Bexson.
“Families are going to have a little bit more to spend.”
The other major tax initiative rolled up in the budget reduces the property tax burden on the education portion of taxes.
bbosker@panow.com
