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      Monday, February 27, 2017

The Employees' Tool Tax Credit recognizes the costs associated with purchasing, replacing and upgrading eligible tools by qualifying employees as a condition of their employment. The tax credit consists of two components: a one-time trade entry amount and an annual maintenance amount. The maximum amount for each component is dependent upon the trade group that the individual is employed in. The tax credit is calculated as 11 per cent of the specified credit amounts for each of the trade group.

The one-time trade entry amount is intended to recognize the high initial cost of tools that are required to be purchased by employees to enter their trade. The annual maintenance amount is intended to recognize the ongoing cost to a tradesperson of maintaining his or her tools that are required as a condition of employment.

The Canada Revenue Agency administers the Employees' Tool Tax Credit on Saskatchewan's behalf and requires that employees and employers complete a provincial tax form T1284 to determine both eligibility and the amount of the tax credit.

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