The provincial government says the $500 cheques will be mailed during the week of November 14th.
It represents a one-time payment to help people make ends meet during a period of high inflation. An estimated 900,000 of the $500 cheques will be issued. Every Saskatchewan resident who is at least 18 years old on December 31, 2022—and who has filed a 2021 tax return—will receive the payment. The money comes from much higher than expected resource revenues for oil and potash.
The measure is part of the Income Tax (Affordability) Amendment Act that was introduced in the legislature. The new legislation also maintains the small business tax rate at zero percent, retroactive to July 1. The Ministry of Finance says the rate will not return to two percent until July 2024. The move is expected to save small business about $93 million over the next three years.
