Newspaper article The Canadian Press

Saskatchewan Premier Brad Wall Hits Pause on Planned Corporate Tax

Newspaper article The Canadian Press

Saskatchewan Premier Brad Wall Hits Pause on Planned Corporate Tax

Article excerpt

Wall hits pause on corporate tax cut

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REGINA - Saskatchewan Premier Brad Wall says the government will pause a corporate tax cut outlined in the provincial budget in March.

The government said in the budget that the corporate tax rate would go from 12 per cent to 11.5 per cent at the start of July, and then down another half point to 11 per cent on July 1, 2019.

But Wall says the phased-in cut is no longer necessary to stay competitive with other western provinces.

He says that's because the new British Columbia government has signalled it will increase its corporate income tax rate.

The premier says the speech from the throne to start the new session of the legislative on Wednesday will refer to the corporate tax cut not being reduced.

He says the government might look at doing something to help small businesses instead, such as changing the $500,000 limit at which small businesses have to start paying the higher corporate rate. …

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