Tax breaks kick in for Saskatchewan residents July 1

Income tax cuts announced for Saskatchewan in March's budget kick in July 1. Saskatchewan residents will see $1,000 more of the basic and spousal tax exemptions and a $500 per child increase for dependent children exemptions.

Finance Minister Ken Krawetz says that means more money in your pocket.

“A family of four with two children — two adults earning $45,550 in this province of Saskatchewan — they are earning that tax-free,” said Krawetz.

“You can't earn that anywhere else in Canada tax-free so we're leading and we're proud to be leading.”

Small businesses will also pay less tax starting July 1. Their tax rate will be cut by more than half from 4.5 to two per cent.

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