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Saskatchewan Dividend Tax Credit #457

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4 changes: 4 additions & 0 deletions changelog_entry.yaml
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- bump: minor
changes:
added:
- Saskatchewan dividend tax credit.
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description: Saskatchewan multiplies the eligible dividend amount under the total dividend tax credit by this amount.
values:
2022-01-01: 0.11
metadata:
unit: /1
period: year
label: Saskatchewan dividend tax credit eligible dividends fraction
reference:
- title: 5008-D Worksheet SK428 - Saskatchewan 2022
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5008-d/5008-d-22e.pdf#page=3
- title: Saskatchewan The Income Tax Act, 2000, Dividend credit, c25, s.13; 2020, c3-29*, s.3; 2022, c46, s.3.
href: https://pubsaskdev.blob.core.windows.net/pubsask-prod/806/I2-01.pdf#page=31
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description: Saskatchewan multiplies the non-eligible taxable amount of dividends under the total dividend tax credit by this amount.
values:
2022-01-01: 0.01695
metadata:
unit: /1
period: year
label: Saskatchewan dividend tax credit non-eligible dividends fraction
reference:
- title: 5008-D Worksheet SK428 - Saskatchewan 2022
href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5008-d/5008-d-22e.pdf#page=3
- title: Saskatchewan The Income Tax Act, 2000, Dividend credit, c25, s.13; 2020, c3-29*, s.3; 2022, c46, s.3.
href: https://pubsaskdev.blob.core.windows.net/pubsask-prod/806/I2-01.pdf#page=31
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- name: 2022 Saskatchewan Dividend Tax Credit Test 1
period: 2022
input:
province_code: SK
eligible_dividend_income: 15_000
non_eligible_dividend_income: 1_000
output:
sk_dividend_tax_credit: 1556.95

- name: 2022 Saskatchewan Dividend Tax Credit Test 2
period: 2022
input:
province_code: SK
eligible_dividend_income: 20_000
non_eligible_dividend_income: 2_000
output:
sk_dividend_tax_credit: 2013.9

- name: 2022 Saskatchewan Dividend Tax Credit Test 3
period: 2022
input:
province_code: SK
eligible_dividend_income: 28_000
non_eligible_dividend_income: 2_800
output:
sk_dividend_tax_credit: 2819.46

- name: 2022 Saskatchewan Dividend Tax Credit Test 4
period: 2022
input:
province_code: SK
eligible_dividend_income: 30_000
non_eligible_dividend_income: 3_800
output:
sk_dividend_tax_credit: 2946.41
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from policyengine_canada.model_api import *


class sk_dividend_tax_credit(Variable):
value_type = float
entity = Person
label = "Saskatchewan Dividend Tax Credit"
unit = CAD
definition_period = YEAR
reference = "https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5008-d/5008-d-22e.pdf#page=3"
defined_for = ProvinceCode.SK

def formula(person, period, parameters):
p = parameters(
period
).gov.provinces.sk.tax.income.credits.dividend_tax_credit.fraction

eligible_dividend_income = person("eligible_dividend_income", period)
non_eligible_taxable_dividends = person(
"non_eligible_dividend_income", period
)

reduced_eligible_dividend_income = max_(
eligible_dividend_income - non_eligible_taxable_dividends, 0
)
credits_on_eligible_dividend_income = (
reduced_eligible_dividend_income * p.eligible
)

credits_on_non_eligible_dividend_income = (
non_eligible_taxable_dividends * p.non_eligible
)

return (
credits_on_eligible_dividend_income
+ credits_on_non_eligible_dividend_income
)
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from policyengine_canada.model_api import *


class eligible_dividend_income(Variable):
value_type = float
entity = Person
label = "Total taxable dividends (eligible and other than eligible)"
unit = CAD
definition_period = YEAR
reference = "https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-40425-federal-dividend-tax-credit.html"
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from policyengine_canada.model_api import *


class non_eligible_dividend_income(Variable):
value_type = float
entity = Person
label = "Taxable Dividends (Non-Eligible)"
unit = CAD
definition_period = YEAR
reference = "https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-40425-federal-dividend-tax-credit.html"