Scott Moe is a man of his word.
The Premier of Saskatchewan has announced his government will be re-instating the PST exemption for agriculture, life and health insurance premiums, effective immediately.
For agriculture, the exemption covers crop, live stock and hail insurance premiums, as well as individual and group life and health premiums. It’s expected the exemption will have an impact of $65 million on the revenue forecast.
Moe says he doesn’t expect this to change the government’s plans to have a balanced budget by 2019.
“I’d say we remain on track on our three year plan to balance here in the province of Saskatchewan.”
Moe also noted if anyone wants to see any more exemptions come down, they’re going to be disappointed.
“We’re set now with respect to the PST is as we move forward,” he said. “From this day, there will be some clarifications on how that will fit in to our third quarter financial as it is a retroactive decision.”