On June 15, 2020, Minister of Finance Donna Harpauer presented the Saskatchewan Budget 2020-21. This year’s budget announcement noted that the financial plan further supports the Saskatchewan Estimates 2020-21 released on March 18, 2020.
The budget release highlighted that the forecast deficit for 2020-21 is $2.4 billion as a result of expected revenue shortfalls created by the COVID-19 pandemic and a sharp decline in oil prices.
This year’s budget contains no new taxes or tax increases. However, to minimize tax leakage, the province proposed to enact measures to ensure non-resident e-commerce platforms collect and remit provincial sales tax (PST) on their taxable supplies made in Saskatchewan. Several commodity tax measures contained in this year’s budget were announced prior to or in the province’s Spending Estimates announcement on March 18, 2020, including:
Details on the previously announced measures are available on the Ryan News and Insights webpage at:
Saskatchewan Estimates 2020-21
Saskatchewan Updates Information on Exemptions for the Mining Industry
Additional information on the 2020-21 Saskatchewan Budget is available on the province’s website at:
Saskatchewan Budget 2020-21