A family of four in Saskatchewan with an income of $50,000 will pay just $64 in provincial income tax, compared to around $2300 8 years ago.
It’s that time of year to start thinking about taxes and Saskatchewan’s Finance Minister advises to take full advantage of the available tax credits.
Kevin Doherty points to the Saskatchewan Low-Income Tax Credit, which is paid quarterly in conjunction with the GST credit.
Last year, more than 47,000 families claimed the Active Families Benefit, which is up to $150 per child to help with the cost of cultural, recreational and sports activities.
There is also the Graduate Retention Program with tuition refunds if you stay in the province and a First-Time Homebuyers Tax Credit.
Last year, more than a quarter-million households claimed the Low-Income Tax Credit and more than 58,000 recent graduates benefitted from the Graduate Retention Program tax credits.