Saskatchewan Payroll Instructions

2023 Saskatchewan Payroll Info

Saskatchewan uses a standard 'stepped' tax table for payroll tax withholding calculations. The provincial tax tables changed in 2023, with new tax rates and steps.

Saskatchewan Provincial LCP

The LCP program has been restored, although most employees probably will not use it.

If one of your employees gets a credit for the labour-sponsored funds tax credit (LCP), create a tax item for the credit. To do so, follow these steps:

1. Choose Payroll Setup from the Costs menu, and choose Tax Items.
2. Click the New button.
3. Call the Tax Item "Sask LCP" plus the employee's name.
4. Click on the Calculation Method popup field and choose Direct Dollars.
5. Type in the amount of the credit-- take the smaller of $525 or 15% of the purchase value of approved labour-sponsored corporation stock, and divide it by the number of pay periods.
6. Click on the Tax Type popup field and choose Employee Credit.
7. Click OK.

You'll also need to assign the LCP credit to the employee. follow these steps:

1. Choose Payroll Setup from the Costs menu, and choose Tax Packages.
2. Click the New button.
3. Put a checkmark next to each tax that applies to this employee (including their LCP credit).
4. Click OK.
5. Open the Payroll tab on the left, and choose Employees.
6. Use the Find command or browser control to locate the employee account.
7. Click in the Tax Package field and enter the tax package that you just created.

If several employees use different amounts for LCP, each one will require a tax item with the correct amount, and a tax package that includes their deduction.

Payroll Links

Revenue Canada Website

Goldenseal Payroll Software Info

Canada Payroll Withholding

Free 2023 Payroll Tax Table Updates

Province Links

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