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Saskatchewan Budget 2018 - CCUA Synopsis

April 12, 2018

Deficit reduced to $365 million, overall expenditures decrease by $200 million.

On Tuesday, April 10, 2018, the Honourable Donna Harpauer, Minister of Finance delivered a budget for 2018-2019. The province remains committed to its plan to return to balance by 2019-2020.

Of Interest to Credit Unions

  • The Saskatchewan Housing Corporation (SHC) will launch the Seniors’ Education Property Tax Deferral Program in April 2018. About 1,600 low- to moderate-income senior homeowners will be able to defer the education portion of their property taxes through a repayable loan. CCUA will be contacting SHC for more information on how the program will be administered.
  • The Saskatchewan Value Added Agriculture Incentive (SVAI) creates a 15 per cent non-refundable and non-transferable tax credit for new or existing value-added agriculture facilities that make a minimum capital investment of $10 million to expand productive capacity.
  • A two-year pilot program will offer a 45 per cent non-refundable tax credit for individual and corporate equity investments in eligible technology start-up businesses (ESBs) capped at a maximum annual benefit of $140,000 per investor.
  • The Saskatchewan Rental Housing Supplement will suspend the intake of new applications while a new rental support program is being co-developed with the federal government as part of the new National Housing Strategy. CCUA will monitor the implementation of this commitment.
  • The new single provincial health authority is projected to save the province approximately $19 million with lower governance and administrative costs now that the two health regions have been amalgamated.
  • The government is restoring $30 million in funding to K-12 education, which the Premier promised during his recent leadership campaign. This additional funding represents a 1.6% increase.
Taxation Measures
  • Provincial sales tax remains at 6%.
  • Personal income tax rates are unchanged, pausing the rate reduction plan announced in 2017.
  • PST exemptions for light used vehicles and for Energy Star appliances are being eliminated. (PST will not be applied to the private sale of used vehicles with a purchase price of up to $5,000.)
  • SaskPower and SaskEnergy will pay grants-in-lieu of property taxes on owned real-estate assets in Saskatchewan (i.e. office buildings), but exclude generation, transmission, and distribution facilities, as well as pipelines and land.
  • SaskEnergy will now collect a municipal surcharge on behalf of all urban municipalities at a rate of five per cent. This charge will appear on SaskEnergy customer bills. Municipalities can choose to opt-out of this program.
Returning to balance
  • The government is hoping to realize the bulk of its savings with $352 million in reduced pension liability and reduced Teachers’ Superannuation plan expenses.
  • The government is looking for $70 million over two years in public sector compensation savings.
  • Total revenues are forecast to be $14.24 billion, up 0.6%.
  • Taxation—$7.21 billion
  • Non-Renewable Resources—$1.48 billion
  • Net Income from Government Business Enterprises—$1.08 billion
  • Other Own-Source Revenue—$2.01 billion
  • Transfers from the Federal Government—$2.46 billion
  • Total expenses are forecast to be $14.61 billion, down 1.4%.
  • Agriculture—$770.9 million
  • Community Development—$642.6 million
  • Debt Charges—$654.6 million
  • Economic Development—$230.2 million
  • Education—$3.26 billion
  • Environment and Natural Resources—$251.7 million
  • Health—$5.77 billion
  • Protection of Persons and Property—$689.9 million
  • Social Services and Assistance—$1.38 billion
  • Transportation—$519.3 million
  • Other—$439.7 million
If you have any questions, please don't hesitate to contact Leslie Trobak at or at 306 271 0407.

Our thoughts are with all those impacted by the Humboldt tragedy and we extend sincere condolences to those who have lost loved ones.