Five things to know about the Saskatchewan budget:
1) No taxes increases, but maybe in the future? There are no new taxes or fee hikes; however, there is a warning about the education portion of property tax bills: “While there is no mill rate increase this year, it remains an area of future consideration for the government in order to ensure a sustainable and equitable funding base for the critically important education sector.”
2) Seniors with prescriptions: If you are a senior and you make more than $65,515 annually, you will be bumped from the plan that covers up to $20 of each prescription. The previous threshold was $80,255.
3) Families with kids in sports: If you are in a family with children in activities and you have an average household income of more than $60,000, you won’t get a tax credit anymore.
4) Recent graduates: If you are a graduate hoping to take advantage of a program providing tuition refunds of up to $20,000 to graduates who stay in Saskatchewan, the refund is being changed to a non-refundable tax credit. That means any rebate amount that can’t be claimed will be carried forward to the next tax year rather than be paid out.
5) Small business: If you run a small business or are thinking of starting one, the Small Business Loans Association program is winding down and won’t offer new loans.
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