Bill 51: The Corporation Capital Tax Amendment Act, 2026

This bill primarily affects banks, credit unions, insurance companies, and other financial institutions operating in Saskatchewan. Large financial institutions — those with over $1.5 billion in aggregate taxable paid-up capital across their corporate group — will see their Saskatchewan corporation capital tax rate jump from 4% to 6% on their taxable capital starting April 1, 2026, meaning bigger annual tax bills tied to the size of their balance sheets. Smaller financial institutions under the $1.5 billion threshold get a significant break: their capital tax drops to zero from April 1, 2026 onward, which benefits mid-sized credit unions or regional financial players who were previously paying 0.7%. Saskatchewan-based Crown corporations involved in telecommunications or other designated sectors also see their capital tax obligations reduced and eventually eliminated by 2027, affecting their internal financial planning and reporting.