The province’s increased potash production tax—now in force
New tax measures announced in Saskatchewan's 2019 budget are included in Saskatchewan Bill 171, which received Royal Assent on May 15, 2019. The measures announced in the province's budget to increase the potash production tax are included in "The Potash Production Tax Amendment Regulations, 2019", published in The Saskatchewan Gazette on May 10, 2019.
This regulation is effective April 1, 2019 and amends Saskatchewan's Mineral Taxation Act to eliminate:
Bill 171 also introduces three non-refundable personal tax credits, effective as of January 1, 2020:
For more information, contact your KPMG adviser.
Information is current to May 28, 2019. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500