On June 15, 2020, Finance Minister Donna Harpauer tabled Saskatchewan’s 2020-21 budget. For 2020-21, the government has projected revenues of $13.6 billion (a decrease of 8.3% from last year) and expenses of $16.1 billion (an increase of 7.2% from the prior year’s budget) resulting in a deficit of approximately $2.4 billion. Due to the uncertainty caused by the COVID-19 pandemic, the government has not provided projections for future years.
Corporate tax rates
The budget does not propose any changes to corporate tax rates, or the $600,000 small business limit.
Saskatchewan’s corporate tax rates for 2020 are summarized as follows:
