2024 Personal Income Tax Rates and Credit Amounts
Saskatchewan |
Tax Rates on
Taxable Income
|
10.5% on first $52,057
|
12.5% on next $96,677
|
14.5% on any remainder
|
Tax Credit Amounts |
Basic personal amount
|
$18,491 |
Spousal/Equivalent amount
Net income threshold
|
$18,491
$20,340 |
Dependent child amount
|
$7,015 |
Senior supplement
|
$1,487
|
Age amount
Net income threshold
|
$5,633
$41,933
|
Disability amount
|
$10,894
|
Disability supplement
|
$10,894
|
Caregiver amount
Net income threshold
|
$10,894
$18,605
|
Infirm dependant amount
Net income threshold
|
$10,894
$7,730
|
Medical expense tax credit
3 per cent of net income ceiling
|
$2,610
|
Pension income maximum
|
$1,000
|
Charitable gift threshold
|
$200
|
CPP/EI contributions
|
actual amount
|
Student loan interest
|
actual amount
|
To determine your 2024 provincial income tax, add up the tax credit amounts that you are eligible to claim and multiply the total by 10.5% (the lowest provincial tax rate). Then subtract the result from gross provincial tax (which is determined by applying the provincial tax rate structure to taxable income) to arrive at basic provincial tax.
Notes on provincial tax credits
The provincial amounts for the CPP credit, EI credit and student loan interest credit are the same as the federal amounts.
To determine the amount to claim for the spousal (or equivalent) credit, subtract your spouse's (or dependant's) net income from $20,341. Claim the remainder or $18,491, whichever is less.
To claim the senior supplement credit, you must be 65 years of age or over on December 31, 2024. You may claim the $1,487 senior supplement amount even if you have claimed $0 for the age amount.
To claim the dependent child credit, the child must be 18 years of age or younger on December 31, 2024 and must have lived with you on December 31, 2024. This amount cannot be claimed in respect of a child who has been claimed as an equivalent-to-spouse by anyone. Claim $7,015 for each child that meets all of these criteria. The lower income spouse should claim all the children in the family; any unused amount may then be transferred to the higher income spouse.
The tax credit for the first $200 of charitable donations is determined at the 10.5% rate while the tax credit for donations in excess of $200 are determined at 14.5% (the highest provincial tax rate).