The Saskatchewan government has created a new organization to collect corporate income taxes, which means businesses and farmers will have to deal with two tax agencies, the Canada Revenue Agency (CRA) and the new Saskatchewan Revenue Agency (SRA). . Gage Haubrich .That caused some concerns and criticisms as it will result in additional costs for the province and businesses will have to file two annual tax returns..The legislation to establish the new SRA crown corporation passed this week and the Canadian Taxpayers Federation (CTF) is watching closely to see if there are benefits to Saskatchewan businesses with the province having complete control over provincial business taxes..“If this program reduces cost for taxpayers, then that’s a great thing, but overall taxpayers need to see the bill and make sure the budget isn’t going to be blown up by creating an entire new bureaucracy here,” said Gage Haubrich, Prairie director of the CTF..Under the present agreement with the federal government it collects income taxes and distributes to the provinces their share of the income taxes..“I think it’s a pretty significant change we're suggesting and I think consultation is very important. If there is absolutely no reason to pursue it, then we won’t go through the cost of even doing the deeper dive,” said Finance Minister Donna Harpauer..The Sask NDP estimated the province will have to spend $10 million annually to carry out the same task the federal government has been doing for Saskatchewan without any charges..“That’s not how you do things. It’s reckless. It’s how you get yourself into a really bad spot. The idea itself has been widely panned by the business community and by the people of Saskatchewan,” said NDP Finance Critic Trent Wotherspoon..The new legislation allows the Saskatchewan government to collect personal income taxes separately in addition to corporate income taxes..If the province decides to collect personal income taxes, Saskatchewan residents will file their income tax returns with the SRA instead of the CRA..However, the province has no immediate plans to collect personal income tax..Other provinces, such as Alberta and Quebec, already have separate tax collection agencies.
The Saskatchewan government has created a new organization to collect corporate income taxes, which means businesses and farmers will have to deal with two tax agencies, the Canada Revenue Agency (CRA) and the new Saskatchewan Revenue Agency (SRA). . Gage Haubrich .That caused some concerns and criticisms as it will result in additional costs for the province and businesses will have to file two annual tax returns..The legislation to establish the new SRA crown corporation passed this week and the Canadian Taxpayers Federation (CTF) is watching closely to see if there are benefits to Saskatchewan businesses with the province having complete control over provincial business taxes..“If this program reduces cost for taxpayers, then that’s a great thing, but overall taxpayers need to see the bill and make sure the budget isn’t going to be blown up by creating an entire new bureaucracy here,” said Gage Haubrich, Prairie director of the CTF..Under the present agreement with the federal government it collects income taxes and distributes to the provinces their share of the income taxes..“I think it’s a pretty significant change we're suggesting and I think consultation is very important. If there is absolutely no reason to pursue it, then we won’t go through the cost of even doing the deeper dive,” said Finance Minister Donna Harpauer..The Sask NDP estimated the province will have to spend $10 million annually to carry out the same task the federal government has been doing for Saskatchewan without any charges..“That’s not how you do things. It’s reckless. It’s how you get yourself into a really bad spot. The idea itself has been widely panned by the business community and by the people of Saskatchewan,” said NDP Finance Critic Trent Wotherspoon..The new legislation allows the Saskatchewan government to collect personal income taxes separately in addition to corporate income taxes..If the province decides to collect personal income taxes, Saskatchewan residents will file their income tax returns with the SRA instead of the CRA..However, the province has no immediate plans to collect personal income tax..Other provinces, such as Alberta and Quebec, already have separate tax collection agencies.
