By Lisa Schick

Thumbs up for the budget: P.A. small businesses

Apr 6, 2011 | 7:03 AM

Prince Albert businesses are feeling good about the 2011/2012 provincial budget.

Saskatchewan Finance Minister Ken Krawetz stopped by a Prince Albert and District Chamber of Commerce luncheon to speak about the budget, Tuesday.

Bryan Rindal, a certified financial planner with BTR Financial Planning, was at the luncheon and said he thinks the government has the right idea with the budget.

“It was a be good, feel good, do good budget,” he said. “It sort of painted a stripe brush and do good to everybody.”

Rindal thinks the budget is especially good from a business standpoint — the small business tax rate was reduced to two per cent from 4.5 per cent, which is the third lowest in the country.

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This is not only good for small businesses already working in the province, but it will also make the province more attractive to entrepreneurs and businesses to come into the province, said Rindall.

“That has to give us a great competitive advantage. When somebody’s looking at setting up a business that’s one of the first things they’re going to look at–what are the tax parameters,” he said.

The budget won’t just affect Rindal’s business because of the business tax rate, but because it’s lowered other taxes and let people keep more of their money. He said he hopes it will boost his business helping people plan for the future and their retirement.

Fred Matheson, owner of Ted Matheson Menswear, was also at the luncheon and said the lowered small business tax rate is one of things that stood out to him in the budget, and that he thinks the budget is definitely good for small businesses.

Rindal said, speaking from a financial background, the province did what they should be doing with the budget – that it’s fiscally prudent.

“They did exactly what I tell most of my clients to do, pay down debt, don’t spend more than you make, and start saving for a rainy day… I think you have to give them A’s across the board,” Rindal said.

At the luncheon Krawetz talked about the budget’s tax cuts and higher funding for various programs and ministries.

The Finance Minister also touched on revenue sharing, and moneys for agriculture and innovation in the province.

Krawetz emphasized that it is a balanced budget and the province’s $3.8-billion debt is the lowest it has been since 1987-88 and Saskatchewan’s GDP to debt ratio is now one of the lowest in the country.

lschick@panow.com