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 effectively removes the eligible capital gain from an individual's income and recalculates the provincial income tax payable with the capital gain taxed at the lowest provincial statutory tax rate.
The Labour-sponsored Venture Capital Program encourages Saskatchewan individuals to invest in funds or pools of capital called Labour-sponsored Venture Capital Corporations (LSVCC).
The Political Contribution Tax Credit allows donors to qualifying political parties or election candidates to claim a provincial tax credit against Saskatchewan personal or corporate income taxes payable.
The Royalty Tax Rebate (RTR) helps to offset the provincial portion of income taxes that are payable as a result of the federal government's decision to disallow provincial royalties and similar taxes as deductions in determining taxable income.
The Government replaced and enhanced the provincial Sales Tax Credit with a new Low-Income Tax Credit, effective July 2008, to reduce the taxes of lower income provincial residents. The credit is fully refundable, meaning that a person does not have to pay income tax in order to receive the benefits. A recipient must file an income tax return as a resident of Saskatchewan and meet income and family criteria to be eligible for benefits.
From 2000 to 2007, Saskatchewan had two programs for graduates of post-secondary programs. The Saskatchewan Post-Secondary Graduate Tax Credit provided a one-time provincial income tax credit for qualifying graduates who obtain employment in Saskatchewan. The Graduate Tax Exemption provided a $10,000 exemption from Saskatchewan income tax for the 2007 taxation year. Carryforward provisions applied to both programs.
The Graduate Retention Program was created in 2008 to rebate up to $20,000 of tuition fees paid by eligible graduates. The tuition rebates will be paid out through the provincial income tax system as a refundable tax credit over the seven years following graduation.
The Mineral Exploration Tax Credit Program was originally introduced in 2000 to encourage investors to purchase flow-through shares of Saskatchewan mineral exploration companies. The Program was allowed to expire after 2005. However, the 10% tax credit has been reinstated for flow-through share agreements entered into after March 31, 2008.
The Active Families Benefit provides an annual rebate of up to $150 per eligible child for the costs of participation in eligible programs, starting with the 2009 taxation year. The rebates will be paid out through the provincial income tax system as a refundable tax credit each year.
The First-Time Home Buyers Tax Credit: a provincial non refundable income tax credit of up to $1,100 to eligible taxpayers on qualified homes purchased after December 31, 2011.