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Saskatchewan Dividend Tax Credits

Saskatchewan Dividend Tax Credit for Eligible Dividends

SK Income Tax Act, 2000 s. 32

Saskatchewan's eligible dividend tax credit rate is defined as a percentage of the Federal gross-up amount.

SK Dividend Tax Credit Rate for Eligible Dividends
Year	Gross-up Rate	%of Federal Gross-up	% of Grossed-up Dividend	% of Actual Dividend
2018+	38%	39.95%	11%	15.18%
2017	38%	39.039%	10.75%	14.83%
2012-16	38%	39.95%	11%	15.18%
2011	41%	37.83%	11%	15.51%
2010	44%	36%	11%	15.84%
2009	45%	35.44%	11%	15.95%

Saskatchewan's 2017 Budget announced that the dividend tax rate as a percentage of the taxable dividend would be reduced in 1/4 point increments each year from 2017 to 2020. However, this was revised with their November 6, 2017 Bill 84, which received Royal Assent on November 7, 2017, which revised the 2018 rate from 38.132% of the gross-up (10.5% of the taxable dividend) to 39.95%, or 11% of the taxable dividend, for 2018 and subsequent taxation years.

Saskatchewan Dividend Tax Credit for Non-eligible Dividends

SK Income Tax Act 2000 s. 32

Saskatchewan's Bill 157, The Income Tax Amendment Act, 2024, which was tabled on March 27, 2024, revises the rates of the non-eligible dividend tax credit for 2024 and later years, as per the 2024 Budget. The revised rates are shown below.

Saskatchewan's non-eligible dividend tax credit rate is defined as a percentage of the Federal gross-up amount.

SK Dividend Tax Credit Rate for Non-Eligible Dividends
Year	Gross-up Rate	%of Federal Gross-up	% of Grossed-up Dividend	% of Actual Dividend
2026+	15%	25.775%	3.362%	3.866%
2025	15%	22.525%	2.938%	3.379%
2024	15%	19.312%	2.519%	2.897%
2023	15%	16.14%	2.105%	2.421%
2021-2022	15%	12.996%	1.695%	1.949%
2019/2020	15%	25.773%	3.362%	3.866%
2018	16%	24.162%	3.333%	3.866%
2016/2017	17%	23.173%	3.367%	3.939%
2014/2015	18%	22.29%	3.4%	4.01%
2012/2013	25%	20%	4.0%	5.00%
2011	25%	25%	5.0%	6.25%

The Saskatchewan table of marginal tax rates shows the marginal tax rates for eligible and non-eligible dividends and other income.

Revised: September 20, 2024

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