Bill 20 — The Small and Medium Enterprise (SME) Investment Tax Credit Act
Assented to on 2025-05-13 · Sponsor: Warren Kaeding
Creates a tax credit program that gives investors a rebate for buying shares in registered small and medium-sized businesses or venture capital corporations in Saskatchewan.
- Lets businesses apply to become a registered 'eligible business' until June 30, 2028, to raise equity capital
- Allows eligible investors a tax rebate of up to 45% of their investment, capped at $500,000 per investor per year
- Lets corporations register as venture capital corporations that invest pooled shareholder money into eligible businesses, capped at $225,000 in credits per year per corporation
- Requires repayment of tax credits if shares are sold, redeemed or cancelled within 3 years of issue
- Bans using the invested funds for prohibited purposes and bans investors from taking control of the business
- Gives government inspectors power to audit records, enter premises and, with a warrant, search and seize evidence
- Sets fines up to $10,000 for individuals and $100,000 for corporations for false statements or violations
The bill on the Legislative Assembly of Saskatchewan website