Regina Homes & Condos For Sale|Regina Real Estate 

The Budget"

REGINA — The Saskatchewan government has brought forward a budget that attempts to put the brakes on spending increases and peels back tax incentives for middle-class families, graduates and the potash industry.

 

A global oil downturn but there is no new personal income taxes or fee increases.

 

Oil revenue is down $661 million from last year's budget.

 

Changes to tax incentives and certain programs were necessary given the fiscal climate.

 

A tax incentive for parents who register their children in sports will now only be offered to families earning less than $60,000 a year. A $20,000 tuition refund for graduates who stay in the province is being converted to a non-refundable tax credit.

 

About 6,000 seniors will be bumped from the rolls of the Seniors Drug Plan as the government shifts the income threshold to $65,500 from $80,000.

 

NDP finance critic said the budget does little for the average Saskatchewan family.

 

Overall, the government is forecasting a surplus of just over $100 million on spending that is up only 1.2 per cent over last year's budget. It predicts $14.28 billion in revenue and spending of $14.17 billion.

 

Changes to tax deductions for the potash industry are expected to increase the government's take by $150 million. The province is also planning a review of the potash royalty structure.

 

The budget allocates $10 million in new investment to seniors care, bringing the total for 2015-16 to $14.5 million.

Comments:
No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
Aaron Habicht
Cell:1-306-536-2454
Sutton Group - Results Realty
3904 B Gordon Road
Regina, SK
S4S 6Y3 CA
The Association of Regina REALTORS® Inc. (ARR) IDX Reciprocity listings are displayed in accordance with ARR's MLS® Data Access Agreement and are copyright of the Association of Regina REALTORS® Inc..
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Association of Regina REALTORS® Inc. displayed on this site is refreshed every 2 hours.