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Saskatchewan Farm and Small Business
Capital Gains Tax Credit		 Protected B when completed
2024
 
Complete this form if you reported capital gains from the disposition of qualified farm property or qualified small business
corporation shares, you were a resident of Saskatchewan at the end of the year, and you had a taxable income
of more than $52,057.
 
If you are filing a paper return, attach this form.
 
Step 1 – Taxable income excluding eligible taxable capital gains
 
Enter your taxable income from line 26000 of your return.    1
 
Amount from line 10684 of Schedule 3    2
Amount from line 10686 of Schedule 3   +  3
Amount from line 10688 of Schedule 3   +  4
If you reported an amount on line 19199 of
Schedule 3, enter the amount from line 15 of		  
Form T2017 (if negative, show in brackets).   +  5
Amount from line 10700 of Schedule 3   +  6
Amount from line 11000 of Schedule 3   +  7
Amount from line 12400 of Schedule 3   +  8
Add lines 2 to 8 (if negative, show in brackets).   =  9
If you reported an amount on line 19200 of
Schedule 3, enter the total of lines 30 and 33 of		  
Form T2017.   –  10
Line 9 minus line 10  
(if negative, show in brackets)   =  11
Inclusion rate   x                 50%  12
Line 11 multiplied by the percentage on line 12  
(if negative, enter "0")   =  ►  13
 
Enter the amount from line 12700 of your return.    14
Enter the net capital losses of other years from line 25300 of your return.   –  15
Line 14 minus line 15   =   16
 
Enter whichever is less:    
amount from line 13 or line 16.    17
Enter your capital gains deduction from line 25400 of your return. (1)   –  18
Line 17 minus line 18  
(If the result is "0" or negative, you are not entitled to this Eligible taxable    
credit. Do not complete the rest of this form.) capital gains    =  ► –  19
Taxable income excluding eligible    
Line 1 minus line 19 (if negative, enter "0") taxable capital gains   =  20
 
(1) Do not include any amounts related to the disposition of fishing property.
   
   
T1237 E (24) (Ce formulaire est disponible en français.) Page 1 of 2 Canada Logo
Protected B when completed
 
Step 2 – Adjusted Saskatchewan tax on taxable income
 
Use the amount from line 20 from the previous page to complete the appropriate column below.
    Line 20 is more than    
  Line 20 is  $52,057 but not  Line 20 is more  
  $52,057 or less   more than $148,734 than $148,734  
 
Amount from line 20 from previous page        21
  –   –   –  22
Line 21 minus line 22 (cannot be negative)   =   =   =  23
  x              10.5%   x             12.5%   x             14.5%  24
Line 23 multiplied by the percentage from line 24   =   =   =  25
Line 25 plus line 26   +   +   +  26
Saskatchewan tax on taxable income        
excluding eligible taxable capital gains   =   =   =  27
 
Amount from line 27    28
Amount from line 19 from previous page    29
Lowest tax rate   x              10.5%  30
Line 29 multiplied by the percentage from line 30   =  ► +  31
Line 28 plus line 31 Adjusted Saskatchewan     
Enter this amount on line 34. tax on taxable income    =  32
Enter the amount from line 8 of Form SK428, Saskatchewan Tax and Credits, or line 9 of
Form SK428MJ in Part 4 of Form T2203, Provincial and Territorial Taxes for Multiple Jurisdictions.    33
Amount from line 32   –  34
  Saskatchewan farm and small business    
Line 33 minus line 34 capital gains tax credit    =  35
 
Enter the amount from line 35 on line 61499 of your Form SK428 or Form SK428MJ in Part 4 of your Form T2203,
whichever applies.
 
See the privacy notice on your return.
 
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