The 2017 Sask Budget increased the Provincial Sales Tax (PST) from 5 to 6 per cent and expanded the PST base to a number of sectors including insurance premiums, construction labour, and restaurant meals and snack foods. This is among the largest tax hike in the province’s history.
Since the Budget was introduced, CFIB heard from hundreds of business owners, like you, concerned about the impact of these tax hikes. That’s why CFIB decided to survey its members to get your feedback.
- March 30-April 10, 2017: CFIB conducted the Saskatchewan Post-budget Survey and received 292 responses from Saskatchewan business owners.
- April 12, 2017: CFIB news release - Sask small biz negatively impacted by $908 million in tax hikes, which revealed 79 per cent of Saskatchewan small businesses will be negatively impacted by the $908 million in tax increases announced in the recent 2017 Saskatchewan Budget. With the construction sector being the hardest hit (92%).
While there are those that say the recent tax increases will have a minimal impact on the economy, it’s clear Saskatchewan small business owners have a very different perspective and are worried about the potential fallout.