Research incentives reduced for business
CBC News | Posted: March 18, 2015 7:53 PM | Last Updated: March 18, 2015
Tightening rules around research and development tax credit to save $18M
Businesses in Saskatchewan will receive less provincial support in terms of a tax credit for research and development.
The province is changing the credit from a refundable to a non-refundable credit. That means the credit can be used to reduce a company's corporate income tax bill. The province used to cut cheques if the credit exceeded the tax.
That ends on April 1.
The province is also reducing the rate of the credit businesses can claim from 15 per cent to 10 per cent.
The changes are expected to save the province $18 million.
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