Alberta -> Alberta Budgets -> Alberta 2017 Budget
- on Alberta website
- Alberta's Bill 15, Tax Statutes Amendment Act, 2017 was tabled in May 2017 with changes to the Alberta Corporate Tax Act, Alberta Personal Income Tax Act, Fuel Tax Act, Tobacco Tax Act, and Tourism Levy Act. It received Royal Assent June 7, 2017.
Tax Changes in the 2017 Budget:
- The dividend tax credit for non-eligible dividends will be revised effective January 1, 2017, but the amount of the credit was not disclosed. The result will be that "Income earned in a small business and flowed out to shareholders will continue to be taxed at a minimum of 10%, Alberta's lowest personal income tax rate." Bill 15 (link above) revised the dividend tax credit rate to 54/359ths of the gross-up amount.
- The amount of the political contribution tax credit will not change, but it will be extended to contributions to party leadership elections and candidate nomination races that meet the criteria established under the Election Finances and Contributions Disclosure Act. This is effective for contributions made on or after January 1, 2017.
- Education property tax rates will be frozen for 2017-18.
- As previously announced, as of January 1, 2017, the carbon levy is charged on sales of fossil fuels that emit greenhouse gases when combusted, at a rate of $20 per tonne, rising to $30 per tonne in 2018.
- The Capital Investment Tax Credit is being extended for a year, available for 2017 and 2018.
- The post-secondary tuition freeze and tax credits are extended under the Jobs Plan.
- The Education Tax Credit was not specifically mentioned, but technical amendments to the Personal Income Tax Act were included in Bill 15 (link above) so that the education tax credit and carry-forward does not rely on the existence of the federal education tax credit and carry-forward.
Revised: November 15, 2017
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