Graduates of post-secondary programs in Saskatchewan are now eligible to receive up to $24,000 in tax credits through the Graduate Retention Program.
The lifetime maximum under the program has increased by 20 per cent for students who graduate on or after Oct. 1, 2024.
The program offers tuition rebates to graduates who live and file taxes in Saskatchewan after completing their post-secondary program. Graduates receive the tax credits over a seven-year period and have up to 10 years after graduation to claim the credits or apply any unused amounts.
“The Graduate Retention Program has been supporting post-secondary graduates for over a decade, and we are proud to increase this incentive,” Advanced Education Minister Ken Cheveldayoff said. “Post-secondary graduates play a pivotal role in supporting Saskatchewan’s Growth Plan and Labour Market Strategy, and we encourage them to take advantage of this tax credit and build their lives here in Saskatchewan.”
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The increased tax credits will be distributed to eligible graduates when they file their 2025 taxes in the spring of 2026.
Those who graduated before Oct. 1, 2024, may still be eligible to receive the original maximum of $20,000. Those who graduated between Oct. 2 and Dec. 31, 2024, should claim the original maximum on their 2024 taxes and will receive a top-up certificate to file with their 2025 taxes.
“Growing up in Saskatchewan has been a privilege, and as I prepare to graduate from USask’s College of Engineering, I am excited about the many opportunities available to my peers and me,” University of Saskatchewan student Arliss Sidloski said. “The 20 per cent increase to the Graduate Retention Program is a fantastic incentive for graduates to build their careers and families here. I encourage my fellow graduates to take advantage of this program and contribute to strengthening Saskatchewan’s workforce and economy.”
For more information on the changes, visit saskatchewan.ca/grp. For questions on filing income taxes, contact the Canada Revenue Agency or an accounting professional.