It was recently announced that the Government of Saskatchewan will be raising the amount of income a small business can make and still be taxed at the lower rate of 2% from $500,000 to $600,000.  

"There was an announcement that there would be an income tax cut," explained Jackie Wall, Executive Director for the Estevan Chamber of Commerce. "And of course, that is always great news, whether it's a personal tax cut or a business tax cut."

"I would say that anytime a business generates more revenue or saves as far as tax or expenses, that tends to go back into the business. That's how small and medium sized businesses work. They are very conscientious in growing their business, sustaining their business, and maintaining their business. Any savings that will result will probably go back directly into the business which will lead to hopefully a little bit of economic growth within our community and take a little pressure off businesses."

"I think it will have a marginal impact. Of course anytime you can earn more and pay less, that's always a good thing. And I think it also accommodates for inflation rates and for the fact that businesses need to earn more money, pay less taxes and keep up with trends in business in general."

“Small businesses are so vital to the health of the economy that our government decided to further enhance the Saskatchewan Advantage,” Finance Minister Donna Harpauer said. “Increasing the income threshold to $600,000 provides Saskatchewan small businesses with an incentive to hire more workers and invest new capital right here in our province. Meanwhile, rates for personal income tax in Saskatchewan continue to be reduced, which also helps create jobs.”

“Once implemented, Saskatchewan’s 12 per cent corporate income tax rate will continue to be competitive and among the lowest in the country, maintaining our province’s advantages when attracting new investment and jobs,” Harpauer said.

Wall added that the tax cut might lead to a growth in small businesses within the province.

"I'm really hoping that it does. I hope that it will attract more businesses or perhaps it will lead to businesses expanding in this area or perhaps contemplating moving a headquarters. You never know how far the impact will go. I'm sure the government will be on top of that and make sure they have the documentation to support what a great idea this was and to let businesses know that they are looking to support in whatever way they can."

More Local News

Sidhu Sentenced To Eight Years In Prison

Families and friends of the Broncos, most adorned in Broncos jerseys bearing their family names, gathered once again in the makeshift courtroom at the Kerry Vickar Centre in Melfort to learn the fate…

Southeast Cornerstone School Division Underfunded Again in Provincial Budget

Reactions continuing to come in from those impacted by the 2019 Provincial Budget released yesterday. Chief Financial Officer with the Southeast Cornerstone Public School Division Shelley Toth said…

Police Broke Up Some Fights Last Night

The Estevan Police Service had their fair share of fights to break up last night. Police were called to a local business parking lot to a report of a fight between four males and a female. Police…

Roman Catholic School Division Seeks To Grow Truth And Reconciliation

The Holy Family has been committed to growing Truth and Reconciliation within their school division. Superintendent Terry Jordens, "We've been working with Truth and Reconciliation for a number of…

St. Mary's School Celebrates Rock Your Socks

Rock Your Socks is a program that many throughout the Energy City continue to participate in each year, to bring awareness to Down Syndrome Awareness Day. Special Olympics Active Start and…

Active Start And FUNdamentals Special Olympics Season Comes To Close

The Special Olympics programs hosted their training day to be a Special Olympics coach in Estevan Sunday, December 16th. Kandyce Meili coordinator, "We had the Special Olympics Active Start and…

St. Joseph's Hospital Down a Doctor

The St. Joseph's Hospital has taken a hit recently to their staffing through maternity leave, but now they face a much more permanent loss. Dr. Ahmad Sawwan, their specialist in Obstetrics &…

Spring Melt Means Potholes

It's no surprise to anyone that has driven on paved roads in Canada that the spring weather always uncovers some nasty potholes. Surprisingly though, Estevan is sitting pretty clean when it comes to…

Federal Budget 2019: Local MP Dr. Robert Kitchen

Souris-Moose Mountain MP Doctor Robert Kitchen didn’t sugarcoat his opinion on the federal budget delivered in Ottawa on Tuesday. “This is all staged to be a cover-up,” Kitchen said, alluding to the…

Wildlife Federation Voices Displeasure over Office Closures

Last week the Ministry of Environment announced the closure of 19 field offices, including the one here in Estevan. The decision was a result of budgte cuts and will impact 19 jobs, three of which…

DiscoverEstevan.com is Estevan's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login