Saskatchewan Bill 30 and Bill 35 are now law. Bill 30 extends the province's Technology Start-up Incentive credit through to March 31, 2026 and Bill 35 extends the credit carryforward period to seven years (from four years), effective January 1, 2021. These changes were announced in Saskatchewan's 2021 budget which was delivered on April 6, 2021.
These measures are considered enacted for U.S. GAAP purposes on May 13, 2021, the date the bills received Royal Assent. These changes were considered substantively enacted for IFRS and Accounting Standards for Private Enterprise (ASPE) purposes on April 14, 2021 and April 20, 2021, for Bill 30 and Bill 35 respectively, the date the bills received first reading (as Saskatchewan has a majority government).
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Information is current to June 1, 2021. 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