Rent reduced for Riders, early budget items approved by Regina Council
3h ago
Council retroactively slashed $1.33 million in rent owed by the Roughriders.
You’re going to be saving some money on your income taxes in 2017.
The province is indexing taxes 1.4 per cent, matching the national inflation rate. It estimates taxpayers will save $9 million.
“Indexation helps keep taxes in Saskatchewan low by protecting Saskatchewan people from ‘bracket creep’,” Finance Minister Kevin Doherty said in a news release.
That means individual taxpayers won’t pay any Saskatchewan income tax on their first $19,490 of income. A family of four won’t pay any Saskatchewan income tax on their first $50,495 of income, the “highest tax-free income threshold for a family of four in Canada” according to the province.
“Our government’s various reductions to personal income taxes since 2008 will save Saskatchewan more than $490 million in 2017,” Doherty said.
“Over the period of 2008-17, these personal income tax reductions will have provided a Saskatchewan family of four earning $50,000 income with total income savings amounting to more than $23,000.”
The province said income tax savings and new tax reduction programs will save a single person who makes $25,000 around $941 in 2017. A family of four with the household income of $50,000 will save $2,694 in tax savings; a family of four with the household income of $75,000 will see tax savings of $2,484.