I just received an email from Sask Finance announcing more tax cuts/shifts. Here's a cut and paste:
- The small business corporate income tax rate is being reduced from 5% to 4.5%, effective January 1, 2007;
- The small business dividend tax credit rate is being reduced from 8% to 6%, effective for the 2007 taxation year; and,
- A new 11% dividend tax credit rate is being established for dividends subject to the 145% federal gross-up factor, effective for the 2007 taxation year;
Wow, this New Saskatchewan Party Government really does seem taxpayer-friendly.