The Saskatchewan Technology Start-Up Incentive is winding its way to final approval and should be implemented later this year. The tax credit will allow small technology startups who are almost always short on capital to raise more by giving a tax incentive back to their investors.
This new tax credit, developed in collaboration with SaskTech, is one of the most thought out tax credits and aims to be one of the most effective in all of Western Canada. Long without an angel investor tax credit, it weighed on the Saskatchewan economy for years, driving investment to other provinces and countries. Its implementation will help unlock technology businesses that may not have been able to get started due to lack of capital. This means more tech in the province of Saskatchewan and a more vibrant and diverse economy. We are seeing a real renaissance in the Saskatchewan technology sector, and this is another piece of a larger picture of growing the Saskatchewan economy.
There are more pieces being worked on, including help for Advanced Education to handle increased enrollment in the provinces post-secondary institutions. If you’re interested in learning more about SaskTech, please visit the website.