Under the current tax on income method, tax for all provinces (except Québec) and territories is calculated the same way as federal tax. Form SK428 is used to calculate this provincial or territorial tax. Non-refundable tax credits that are specific to a province are also calculated on Form SK428.
Saskatchewan’s Income Tax Brackets for 2019 Tax Year
- 10.5% on first portion of taxable income up to $45,225
- 12.5% on next portion over $45,225 but no more than $83,989
- 14.5% on the portion of taxable income over $83,989
Your taxable income represents your total income minus federal deductions like the RRSP deduction and child care expenses. Like its name implies, it is the amount on which you pay income tax.
What are some of the tax credits, deductions and rebates specific to Saskatchewan?
- Saskatchewan Employment Supplement This payment helps low-income families; it depends on the number of children, their age and the household income.
- Graduate Retention Program This program provides a rebate of up to $20,000 on tuition fees for graduates to live in Saskatchewan and file a return in that province. Unused credits can be deducted as part of the Graduate Tuition Refund.
- Saskatchewan low-income tax credit This refundable credit is designed to reduce the taxes of low-income residents.
- First-Time Home Buyers Tax Credit This is a non-refundable credit of up to $1,100 for eligible tax payers who bought qualifying homes after December 31, 2011.
For more information about SK tax credits, please visit the Government of Saskatchewan website.
Green energy
SaskEnergy’s EnerGuide for houses offer pre-retrofit evaluations (part of the cost is reimbursed by the province) in order to qualify for a grant for furnace replacement. The province offers the PST exemption for qualifying Energy Star household appliances, and the Energy-Efficient Exemption on New Energy Star Qualified Furnaces, Boilers and Heat Pumps. The Saskatchewan Home Energy Improvement Program for Low-income Households is managed by Environment Canada.
Some Saskatchewan tax forms:
- Form 5008-D: Provincial Worksheet: The Saskatchewan Provincial Worksheet is used to calculate specific deduction amounts that will be entered on form SK428.
- SK428– Saskatchewan Tax and Credits
- SK(S2) – Provincial Amounts Transferred From Your Spouse or Common-Law Partner
- SK(S11) – Provincial Tuition and Education Amounts
- RC360 – Saskatchewan Graduate Retention Program
- T1237 – Saskatchewan Farm and Small Business Capital Gain Tax Credit
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Provincial tax brackets