Carbon tax revenue from the industrial sector will save the industry an estimated $3.7 billion in federal carbon taxes between now and 2030, compared to federal carbon pricing, the province says. The federal carbon tax is set to increase to $65 per tonne from $50 per tonne. The increase is in addition to a four per cent rate increase that came into effect on Sept. 1, 2022, and an additional four per cent increase slated to take effect on April. The panel said SaskEnergy could maintain its commodity rate increase of 31 per cent, which took effect in August, and its eight per cent delivery rate increase for this fiscal year. "Indexation of the provincial Personal Income Tax (PIT) system preserves the real value of personal tax credits, and the income tax brackets, as well as benefits such as the Saskatchewan Low-Income Tax Credit," the news release said.

Source: CBC News December 30, 2022 22:08 UTC