Bill 49: The Income Tax Amendment Act, 2026

Most individual Saskatchewan residents and families will see modest reductions in their provincial income tax owing due to higher personal credit amounts — this includes anyone filing a Saskatchewan return who claims a spousal, dependent, child, or pension credit. Businesses in the chemical fertilizer sector operating in Saskatchewan are more significantly affected: companies that have received or plan to apply for an SCFI eligibility certificate must now apply for rebates within 3 years of the relevant taxation year, keep detailed records (including shareholder financial statements) in Saskatchewan for at least 6 years, and are subject to new cutoff dates — no new capital expenditures after December 31, 2031 qualify, and no applications submitted after December 31, 2026 will be considered. These fertilizer businesses, typically large industrial operations, will need to review their compliance timelines and records management practices immediately. Smaller operators and individuals are only affected through their annual tax filings where they'll see slightly larger credit amounts reducing their provincial tax.