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2012 Saskatchewan Budget Impact Paper

This paper was prepared by the Compensation Sector, Accounting, Banking and Compensation Branch, Public Works and Government Services Canada (PWGSC). It provides an assessment of the Saskatchewan Budget impact on the PWGSC compensation and pension systems.

The 2012 Saskatchewan budget that was presented by the Honourable Ken Krawetz, Minister of Finance for the Government of Saskatchewan, on March 21, 2012, was reviewed and contained no new income tax measures affecting federal public service pay or pension payments.

ITEMS OF INTEREST

Introduction of a First-Time Homebuyers Tax Credit

The Saskatchewan budget introduced a First-Time Homebuyers Tax Credit effective January 1, 2012, which provides eligible residents with a non-refundable income tax credit of up to $1,000. Many features of this credit will mirror the federal First-Home Home Buyers’ Tax Credit program.

Active Family Benefit Tax Credit expanded to children under age 18

Effective January 1, 2012, the Active Families Benefit, which provides a refundable personal income tax credit of up to $150 per child to assist families with the cost of registering children in cultural, recreational and sports activities, is expanded to children under the age of 18.

To review the 2012 Saskatchewan budget documents, please visit the following Web site: 2012-13 – Finance – Government of Saskatchewan