Government of Saskatchewan
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         Saturday, May 27, 2017
Minister of Finance

The Corporation Income Tax Rebate for Primary Steel Production will provide a tax incentive for eligible primary steel producers that make an minimum captial investment of $100 million in new or expanded productive capacity. An eligible primary steel producer is a company that smelts and refines metals to produce steel in ingot or molten form, then rolls, draws or casts that steel into sheet, strip or other form at a production facility in Saskatchewan.

The tax incentive for each year of a five-year rebate period will be based on the incremental Saskatchewan Corporation Income Tax payable by the corporation as a result of the new investment. Incremental tax will be determined based on the proportionate increase in the facility's productive capacity resulting from the capital investment.

The tax incentive will rebate the full amount of incremental tax for each of the first two years of the rebate period, 75% of the incremental tax for the third year of the rebate period, 50% of the incremental tax for the fourth year of the rebate period and 25% of the incremental tax for the fifth year of the rebate period.

Administration

This incentive will be administered by the Saskatchewan Ministry of Finance. An eligible corporation will file its corporate income tax return and pay its normal tax liability to the Canada Revenue Agency and then claim the tax rebate by applying to the Saskatchewan Ministry of Finance. After making a qualifying capital investment, an eligible corporation has 10 years to utilize the incentive.



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