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2023 Saskatchewan Budget Highlights

2023 Saskatchewan Budget Highlights

Synopsis
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Saskatchewan Minister of Finance Donna Harpauer tabled the province’s 2023 Budget on Wednesday, March 22, 2023.

Saskatchewan Minister of Finance Donna Harpauer tabled the province’s 2023 Budget on Wednesday, March 22, 2023. This year’s budget, titled Growth That Works For Everyone, includes investments in health care, education, social services, and public safety. The budget also contains capital investments and increased efforts in international trade to strengthen the economy.

No corporate or personal income tax rate changes were announced.

Tax measures in the budget include:

  • Extension of the Saskatchewan Manufacturing and Processing Exporter Tax Incentive, a non-refundable tax credit available to eligible corporations, until December 31, 2023.
  • Increase to the Saskatchewan Mineral Exploration Tax Credit to 30 percent (from 10 percent), effective for the 2023 taxation year.
  • Continuation of the Graduate Retention Program to provide up to $20,000 in tax credits to post-secondary students who remain in the province to work.
  • New exemptions from Saskatchewan’s Provincial Sales Tax (PST) on:
    • Select farm equipment (certain produce storage buildings, boats with attached harvesting equipment)
    • Labour to repair and install medical equipment
    • Geothermal drilling rigs
  • Increases to benefits for Saskatchewan Income Support, Saskatchewan Assured Income for Disability, Senior's Income Plan, and the Personal Care Home Benefit in support of low-income individuals and families.

Full details of the 2023 Saskatchewan Budget can be found here.

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