Nearly 11,000 post- secondary graduates in Saskatchewan will be getting their certificates for the provincial Graduate Tax Credit by the end of February. A portion of that savings will start showing up on paycheques after July 1st. Legislation before the assembly creates a new tax system and substantial tax reductions over the next four years. Finance Minister Eric Cline moved second reading of the legislation June 19th.
Tax reform is fundamental to keeping our province competitive.
The legislation enacts in law the government's plan to lower taxes and implement a simpler income tax system. Saskatchewan is the only province to include these special credits in its tax reform plan. As a result of tax reform, about 55,000 low income earners will be removed from the tax rolls altogether. The changes we are tabling today will secure the simple, fair competitive tax system we need for even stronger growth and opportunities for the people and the province of Saskatchewan.