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COVID helps push Saskatchewan forecast deficit to $2 6 billion
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“We are pleased to resume the indexation of income tax brackets and tax credit amounts in 2021,” Deputy Premier and Finance Minister Donna Harpauer said. “Indexation protects Saskatchewan taxpayers from bracket creep, and helps keep the tax system fair, competitive and affordable.” Saskatchewan families with children enrolled in sports, arts and cultural activities will also be able to claim the Active Families Benefit once again on their 2021 taxes. “Restarting the Active Families Benefit to make children’s activities more affordable was a key election commitment of our government,” Harpauer said. “As promised, the Active Families Benefit will provide a non-refundable tax credit of $150 per year per child to eligible families. Families of children with a disability will receive an additional $50, for a total tax credit of $200 per year per child.”
The level of indexation in 2021 will be 1.0 percent, matching the national rate of inflation. The province expects it will save taxpayers an estimated $15 million. “Restarting the Active Families Benefit to make children’s activities more affordable was a key election commitment of our government,” Harpauer said. “As promised, the Active Families Benefit will provide a non-refundable tax credit of $150 per year per child to eligible families. Families of children with a disability will receive an additional $50, for a total tax credit of $200 per year per child.” Families with children enrolled in sports, arts and cultural activities will also be able to claim the Active Families Benefit once again on their 2021 taxes. The restarting of the Active Families Benefit will be part of the 2021-22 Budget which will be retroactive to January 1, 2021. Parents who enroll their children in sports, arts and cultural activities in the new year are therefore reminded by the provinc
Sask announces new and returning income tax credits for 2021
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A series of new and returning provincial income tax credits and other tax-reduction initiatives will help make life more affordable for Saskatchewan people in the new year. All Saskatchewan income tax brackets and tax credit amounts will once again be indexed in 2021, saving the province’s taxpayers an estimated $15 million. The level of indexation in 2021 will be 1.0 per cent, matching the national rate of inflation. “We are pleased to resume the indexation of income tax brackets and tax credit amounts in 2021,” Deputy Premier and Finance Minister Donna Harpauer said. “Indexation protects Saskatchewan taxpayers from bracket creep, and helps keep the tax system fair, competitive and affordable.”
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