Accounting & Tax Resources

Understanding tax and accounting in Saskatchewan

Saskatchewan's economy is broad and distinctive, spanning grain and oilseed farming, cattle ranching, potash and uranium mining, oil and gas, manufacturing, construction, transportation, healthcare, professional services, retail and a growing technology sector. Each of these activities carries its own tax treatment, record-keeping expectations and planning opportunities, and the right guides and professional advice make a measurable difference to how much tax you pay and how confidently you can plan ahead. BOMCAS Canada works with individuals, families, sole proprietors, partnerships, corporations and not-for-profits in every corner of the province, applying current federal and Saskatchewan rules to each client's specific circumstances rather than relying on one-size-fits-all templates.

Saskatchewan sales tax: GST and PST explained

Unlike provinces that use a single harmonised sales tax (HST), Saskatchewan operates two separate sales taxes. The federal Goods and Services Tax (GST) is charged at 5 percent and is administered by the Canada Revenue Agency, while the Saskatchewan Provincial Sales Tax (PST) is charged at 6 percent and is administered by the provincial Ministry of Finance. In most retail situations the combined rate a customer sees is therefore 11 percent. The two taxes work very differently: GST is a value-added tax where registrants can generally recover the GST they pay on business inputs through input tax credits, whereas Saskatchewan PST is largely a tax on the final consumer, with far more limited recovery. Because PST has no small-supplier threshold, a business making taxable sales in Saskatchewan generally must register for and collect PST regardless of size, even where it might not yet be required to register for GST. Getting both registrations, the correct tax treatment of each product or service, and the filing cadence right is one of the most common areas where Saskatchewan businesses need professional help, and one where mistakes can be costly.

Federal and provincial income tax

Saskatchewan residents and businesses pay both federal and Saskatchewan income tax. Individuals are taxed under federal brackets alongside Saskatchewan's provincial brackets and benefit from provincial credits and programs that interact with the federal system. Saskatchewan corporations pay a general provincial corporate income tax rate together with a reduced small-business rate on active business income that qualifies for the small-business deduction, layered on top of the federal corporate rates. Planning around salary versus dividends, the timing of income and expenses, capital cost allowance, and the use of available credits requires an accountant who works with these combined rules every day. Our role is to keep your filings accurate and on time while structuring your affairs so you keep more of what you earn, entirely within the rules.

Why a Saskatchewan-focused firm matters

Tax software and national chains can prepare a return, but they rarely understand the local context that affects Saskatchewan taxpayers — from the qualified-farm-property rules that matter so much to the province's farm families, to the equipment and depreciation questions facing oilfield, trucking and construction operators, to the incorporation decisions weighing on the province's doctors, dentists and consultants. By focusing on Saskatchewan, BOMCAS Canada brings that context to every engagement. We offer clear fixed-fee quotes, year-round availability rather than seasonal contact, secure digital document handling so distance is never an obstacle, and direct representation before the CRA when questions or audits arise. Whether you are in Saskatoon, Regina, Prince Albert, Moose Jaw, Swift Current, Yorkton, North Battleford, Estevan, Weyburn or a smaller rural or northern community, you receive the same considered, professional standard of service.