Notice for members with stores in Saskatchewan – Saskatchewan Budget 2017 raises and expands PSTPrint
Saskatchewan’s 2017 provincial budget raised the PST from 5% to 6% effective March 23, 2017. Effective April 1, 2017 the PST will also be expanded to cover the following items that were previously exempt:
- Children’s clothing;
- Restaurant meals and snacks;
- Value of a trade in allowance on new vehicles;
- Contracts for repair, renovation, or improvement of real property; and
- Insurance premiums.
As well, the fuel tax exemption for bulk fuel purchases will be eliminated on April 1, 2017.
The tobacco tax rate was increased by 2 cents per cigarette effective March 23, 2017 and liquor mark-ups will increase on April 1, 2017.
The full details on these tax changes can be found here:
In addition, changes were made to the Saskatchewan Beverage Container Collection and Recycling Program that will take effect on April 1, 2017 that will see milk containers treated the same as all other beverages and included in the deposit beverage program. In addition, deposits will be increasing on all plastic, metal, paper-based polycoat and aseptic shelf stable containers. Only glass deposits remain unchanged.
More detailed information on these changes can be found here:
Personal income tax rates and corporate tax rates are being reduced by 0.5% on July 1, 2017 and reduced by an additional 0.5% on July 1, 2019. However, the indexing the tax rates to inflation have been suspended for the 2018 tax year so income tax brackets will not be adjusted to account for inflation.
To view the 2017 Saskatchewan budget papers, click here:
If you have any questions or concerns, please don’t hesitate to contact: Lanny McInnes, Director Government Relations (Prairies) at: [email protected] or 204-253-1654