Saskatchewan Budget Highlights

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On June 1, the Saskatchewan government released its budget, indicating a deficit of $434 million in 2016-17 with a plan to "transform" government expenditures and operations. Significantly reduced natural resources revenues were cited as a key reason why revenues were lower than anticipated. There were no tax increases announced and the role of agriculture was indicated as a key contributor to the province’s continued growth.

In the budget briefing attended by AMC president, Leah Olson, the Minister of Agriculture, the Honourable Lyle Stewart, indicated he sees the innovation of agriculture equipment as a key part of why the agriculture industry is successful. There was no elaboration on the "Patent Box" the Saskatchewan Party announced during the election to promote innovation – consultations on this are being led by Innovation Saskatchewan. AMC will be hosting a roundtable with members in early July to provide recommendations and ideas to help inform the development of this growth tax incentive. Details about the roundtable will be provided in the coming days.

The Saskatchewan budget and the various documents related to it are available here: http://finance.gov.sk.ca/budget2016-17

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