Saskatchewan has unveiled its long-anticipated legislation aimed at reducing personal income tax for residents.
Known as the Saskatchewan Affordability Act, the legislation put forward by Premier Scott Moe’s Saskatchewan Party government will raise personal income tax exemptions while indexing tax brackets to match inflation.
It’s a move that the province says will save a family of four earning $100,000 more than $3,400 over a four-year period while two seniors with a combined income of $75,000 will save more than $3,100.
The measures will also see an estimated 54,000 residents exempt from provincial income tax once the changes are enacted, the province said in a press release. …