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
Agricultural Manufacturers of Canada