CTF pleased debt down, school taxes down, personal income taxes down, small business income taxes down and GDP up

The Canadian Taxpayers Federation (CTF) responded to the Saskatchewan budget today by giving it a thumbs up. The CTF was pleased many of its recommendations on tax relief and its push for debt repayment were reflected in the budget.

"It will be hard to find a better budget in Canada this year," predicted CTF Prairie Director Colin Craig. "The government cut personal income taxes, school taxes, the small business tax and balanced the budget on top of it."

Budget highlights included:

• $325 million payment on the debt
• Reduction to the small business tax rate from 4.5% to 2.0%
• Increased the basic personal exemption and spousal amount by $1,000
• Increased the child tax benefit by $500
• Reduced school taxes by increasing provincial funding from 63% to 66%
• Spending up 5.5% over last year
• Resource revenues up 10% over last year

"We called for hiking the basic personal exemption to $15,000 by 2013, but the government has almost met that goal in one year. It's great news for taxpayers, especially low income earners."

"We would have liked to have seen a long term time table for debt repayment, as well as spending restraint, but all things considered this is a good budget."

By: Colin Craig
Posted: March 23, 2011
Topic: Saskatchewan

Contact the regional director Colin Craig for further information.

Type: News Releases

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