Below you'll find MLA Tim McLeod's Report from the Legislature for May 16, 2024.
The views expressed below are solely the opinions of the author and do not necessarily reflect the official stance of Golden West.
Affordability for Saskatchewan families remains a top priority in the 2024-25 provincial budget. Our government continues to introduce and enhance programs to make life more affordable for residents of the province.
Saskatchewan has among the lowest personal taxes in the country. Since 2007, Personal Income Tax (PIT) exemptions have removed 112,000 residents from the income tax roll. In total, PIT reductions during that time have provided over $830 million in annual income tax savings to Saskatchewan people. In 2024, Saskatchewan residents will save $70 million on their income taxes from indexation of the provincial income tax system.
A family of four pays no Provincial Income Tax on their first $59,475 of income. This is the highest tax-free threshold in Canada – and more than twice as much as in 2007, when a family of four began paying provincial income tax once their combined income reached just $26,150.
When combined with utilities and housing costs, Saskatchewan also comes out on top; the province is the most affordable place to live in Canada for a family of four when taxes, housing and utilities are considered.
In this year’s budget, Saskatchewan families will benefit from programs and services designed to make life more affordable, including the Active Families Benefit, Children’s Drug Plan and $10/day child care for children under the age of six, as well as programs to help fund insulin pumps and glucose monitors. The budget also includes a $4-million increase to continue to meet the needs of children and their families through the Autism Spectrum Disorder Individualized Funding Program.
For those looking to put down more permanent roots in their communities, the budget funds the PST Rebate on New Home Construction Program, which is helping make new home ownership more affordable. The Saskatchewan First-Time Homebuyers’ Tax Credit provides a non-refundable income tax credit of up to $1,050 to eligible taxpayers on qualified homes. Homeowners can benefit from the Saskatchewan Secondary Suite Incentive (SSI) Grant Program, which was developed to increase housing and rental availability in the province.
Further contributing to affordability in Saskatchewan is our government’s decision to stop SaskEnergy and SaskPower from collecting the carbon tax on natural gas and electric residential home heating. This is in addition to a SaskEnergy rate decrease that lowered bills for the average residential customer by nearly eight per cent beginning in October 2023.
Our government is providing additional funding support for people with disabilities in the budget. This includes $10.4 million in additional funding to support the changing service needs of current adult clients with intellectual disabilities, as well as the delivery of residential and day programs for new clients.
Saskatchewan students will benefit from $46.5 million in financial supports, including a new grant for low-income students with dependents. This program will help reduce financial barriers to completing their post-secondary education. The budget includes $34.4 million for the Student Aid Fund, which provides financial assistance to over 22,000 students every year, and $12.2 million in scholarships and bursaries.
The budget continues to deliver the Graduate Retention Program. It provides up to $20,00 in tax credits to post-secondary graduates who live and work in Saskatchewan, benefitting more than 81,600 graduates to date.
Saskatchewan seniors will also benefit from this year’s budget. The Seniors Income Plan offers eligible seniors up to $360 per month, while the monthly income threshold for the Personal Care Home Benefit will increase by $100 to $2,500 to help make the cost of living in a licensed personal care home more affordable. Other health care benefits for seniors include funding for the Senior Citizens Ambulatory Assistance Program, Seniors’ Drug Plan and Home Care services.
The budget provides support for the most vulnerable residents, helping low-income individuals and families meet their basic needs as they work to become more self-sufficient. The Saskatchewan Income Support Basic Shelter Benefit and Saskatchewan Assured Income for Disability have both increased by three per cent.
As our government continues working to keep life in Saskatchewan affordable, we look forward to hearing from you. Please feel free to reach out to my office at 306-692-8884 or mjnorthmla@sasktel.net.