Saskatchewan – Provincial corporation tax

What's new for corporations

Lower rate

The lower rate of Saskatchewan income tax is:

• 0% effective October 1, 2020
• 1% effective July 1, 2023
• 2% effective July 1, 2024

If the rate changes during the tax year, you have to base your calculation on the number of days in the year that each rate is in effect.

Income eligible for this lower rate is determined using the Saskatchewan business limit of $600,000.

Higher rate

The higher rate of Saskatchewan income tax is 12%. This rate applies to all income not eligible for the lower rate.

For more information, see Dual tax rates.

Reporting the tax

You can use Schedule 411, Saskatchewan Corporation Tax Calculation, to help you calculate your Saskatchewan tax before the application of credits. You do not have to file it with your return. See the schedule for more details.

On line 235 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of tax calculated.

Claiming the credits

Saskatchewan offers different tax credits. Details of each credit can be found in the following pages and their associated schedules:

• Foreign tax credit
• Manufacturing and processing investment tax credit
• Manufacturing and processing profits tax reduction
• Political contribution tax credit
• Qualifying environmental trust tax credit
• Research and development tax credit

Forms and publications

• Schedule 411, Saskatchewan Corporation Tax Calculation
• Schedule 5, Tax Calculation Supplementary – Corporations

Government partners

• Saskatchewan (provincial site)