Saskatchewan Taxpayers Will Save $ 9.0 Million Through Indexation In 2017
All Saskatchewan income tax brackets and tax credit amounts will once again be indexed in 2017 , saving taxpayers an estimated $ 9.0 million . The level of indexation in 2017 will be 1.4 per cent , matching the national rate of inflation .
“ Indexation helps keep taxes in Saskatchewan low by protecting Saskatchewan people from ‘ bracket creep ’,” Finance Minister Kevin Doherty said . “ Our government is committed to keeping Saskatchewan ’ s tax system fair and competitive , and yearly indexation is part of an array of measures aimed at accomplishing just that .”
Individual taxpayers now pay no Saskatchewan income tax on their first $ 19,490 of income while a family of four pays no Saskatchewan income tax on their first $ 50,495 of income — the highest tax-free income threshold for a family of four in Canada . A family of four with $ 50,000 annual income , and deducting $ 3,000 in child care expenses , has seen their provincial income tax cut by 100 per cent since 2008 — from about $ 2,300 to zero provincial income tax in 2017 .
“ Our government ' s various reductions to personal income taxes since 2008 will save Saskatchewan people more than $ 490 million in 2017 , and have resulted in about 112,000 low-income Saskatchewan residents being removed from the income tax rolls entirely ,” Doherty said . “ Over the period of 2008-2017 , these personal income tax reductions will have provided a Saskatchewan family of four earning $ 50,000 in income with total income tax savings amounting to more than $ 23,000 .”
Measures to reduce personal income taxes in Saskatchewan since 2008 include : - Increasing personal , spousal , and child exemption amounts and introducing a new Low Income Tax Credit in 2008 ; - Raising personal , spousal , and child exemption amounts again in 2011 ; and - Introducing a new First-Time Homebuyers ' Tax Credit in 2012 .
When income tax savings are combined with new tax reduction programs introduced since 2008 ( including the refundable Low-Income Tax Credit ), a single person with $ 25,000 annual income will benefit from $ 941 in lower provincial tax in 2017 than in 2008 . A family of four with $ 5 0 , 0 0 0 c o m b i n e d i n c o m e will see tax savings of $ 2,694 ; and a family of four with $ 7 5 , 0 0 0 c o m b i n e d i n c o m e will see tax savings of $ 2,484 , when c o m p a r i n g 2017 to 2008 .
MARTENSVILLE PHARMACY
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Stay Safe When Heading Out onto the Ice
With the recent fluctuation in temperatures within Saskatchewan , the Ministry of Environment is reminding people to make sure there is sufficient ice for your safety if you plan on going onto the ice for ice fishing or other activities .
Ice thickness depends on the water body and the surrounding conditions . Ice does not freeze at a uniform thickness and ice strength can vary considerably from one area to another .
It is important to test the ice thickness before you travel on it . There should be at least 10 cm ( 4 ") of ice to walk on , 20 cm ( 8 ") to drive a snowmobile or ATV on , 30 cm ( 12 ") to drive a car or light truck on , and more than 30 cm ( 12 ") to drive a heavy truck on .
The ice thickness is a guideline ; it is up to individuals to make a decision about whether to venture onto the ice . Any activity on ice comes with a risk .
Ice thickness also cannot be the sole measure of whether it is safe to go on . Clear , hard ice is the only ice that is recommended to travel on . Avoid ice that is :
• Slushy in appearance .
• Ice that has thawed then froze again .
• Ice near moving water .
• Layered ice caused by sudden temperature changes .
Also , stay away from structures on ice such as pressure ridges .