Sask. Party pledges to boost local patents, R&D
Brad Wall promises tax reductions to companies that support local patents
Saskatchewan Party leader Brad Wall says he'll bring in a tax incentive for companies using ideas patented by people in the province.
Calling it a growth tax reduction, Wall said the change would mean that incomes taxes would be lowered from 12 to 6 per cent for corporations that earn income on products that are patented by Saskatchewan companies.
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"Becoming the first province in Canada and the first jurisdiction in North America to offer this incentive will be one more part of the Saskatchewan advantage that has already attracted thousands of new people and jobs and millions of dollars of new investment to Saskatchewan over the past few years," Wall said in a news release.
He also promised that if re-elected, his party would provide a refundable tax credit for research and development — when and if the province's finances are stronger.
That tax credit would reach a maximum of 10 per cent and $100,000, per year for a corporation or company that used it.
Saskatchewan voters go to the polls on April 4.