Outdoor Pool Schedule and Sportsplex Maintenance Details

Click here for information.

Small Business owners in Saskatchewan can look forward to the new year knowing they'll have the highest income threshold in Canada.

The provincial government announced that they are increasing the income threshold for small businesses while also lowering the personal tax rate.

Brian Miller is the Manager/Public Relations for the Ministry of Finance and explained what the new income threshold would mean for small businesses in the province.

"So it's a good incentive for all the small businesses in the province," he said. "What that means is they have a higher income threshold in which they are taxed at a lower rate. Effective January 1st that went up from $500,000 to $600,000. The small business income threshold is the amount of income up to which small business pay tax at the much lower percent small business tax rate."

As for the lower personal taxes, they were introduced in July of last year, but this will be the first full year with the lower personal tax rate.

Miller said that the lower rates should help the province and the people in it.

"Well lower personal taxes help attract jobs, and they attract people to our province by improving Saskatchewan tax competitiveness," he said. "We are in a pretty good period right now for people coming to Saskatchewan, so we're hoping that's going to help contribute to that continuing."

Miller noted that the lower rates are expected to lead to over $120 million in savings for taxpayers.

"Well i think there's the recognition that small business is one of the key drivers of the economy," he said. "So this certainly small business threshold increase is going to increase that, and I think that the fact personal taxes are going down helping small business attract employees is going to help as well so its all good news."

This change to the Income Tax Act builds on the governments decision in 2011 to reduce the small business tax rate from 4.5% to 2%. This will have saved smal businesses over half a billion dollars (about $80 million per year) by the end of 2017.

Saskatchewan Personal Income Tax rates will drop by another half point on July 1, 2019.

More Local News

Helping More Students Graduate

Saskatchewan's 2016/2017 high school graduation rate shows there was a slight increase compared to last year. It showed in 2015/2016, stats were at 75.6% and moved up to 76.5% in the recent rates,…

Spray Park Closed for Serpentine Work

Here's a little something to keep in mind for the little ones this week. The spray park in Crescent Park is closed for the next couple days. The city is still working on the Serpentine and since…

Outdoor Pool Schedule and Sportsplex Maintenance Details

Click here for information.

Cultural Centre Board Defends RuBarb Eviction

The Cultural Centre Board is striking back at RuBarb Productions after the local theatre group was evicted from the City-owned building. Last week, RuBarb held a press conference saying they were…

Former City Manager Files Lawsuit Against Moose Jaw

The City of Moose Jaw is preparing to defend itself in court after having a lawsuit brought against them by former City Manager Matt Noble. You may remember the story of Matt Noble and his surprise…

Short Line 101 Makes Return to WDM

In 2015, the Short Line 101 made its last trip around the Western Development Museum. Immediately after the decision was made to shut down the line, fundraising efforts were made to bring back the…

Province Announces Another Bump to Minimum Wage

Saskatchewan minimum wage is about to take a bump. The province announced that last week it'll go up 10 cents per hour, reaching $11.06 an hour on October 1st. The latest increase is a result of an…

City Awaits Outsiders Look at Local Operations

Waiting for a report on how they can move forward, Moose Jaw Mayor Fraser Tolmie is pleased with a planning session that council had earlier this month with the author of "13 Ways to Kill Your…

Habitat For Humanity Holds 2nd Spring Gala

Hours of sawing wood, hammering nails, inserting insulation and a lot of painting all contribute to families being able to own their own home. Saturday night saw residents of Moose Jaw coming out to…

High Street Resurfacing Begins July

High Streets Weekly Construction Update has come out, and we're getting closer and closer to a smooth high street ride. The preparations for paving, which included trenching, compaction, sewer…

Brain Injury Can Happen Anywhere

Anyone, Anywhere, Anytime. That's where a brain injury can happen. June is brain injury awareness month Canada, and while it's a year-long effort to get the word out on prevention and programs to…

DiscoverMooseJaw.com is Moose Jaw's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login