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Alberta -> Alberta Budgets

Alberta Budgets

Alberta 2016 Budget - April 14, 2016

 - on Alberta website

Tax Changes in the 2016 Budget:

bulletIntroduction of two tax credits for individuals and corporations that invest in Alberta, further details will be available later this year:
bulletAlberta Investor Tax Credit will benefit investors who invest in eligible small and medium-sized enterprises in Alberta.
bulletCapital Investment Tax Credit will benefit corporations that make investments in eligible capital assets.
bulletSmall business corporate income tax rate will be reduced from 3% to 2% effective January 1, 2017.
bulletDividend tax credit rate for non-eligible dividends (paid out of income taxed at small business rate) will be reduced effective January 1, 2017 to reflect corporate tax rate reduction.
bulletEnhanced dividend tax credit rate for eligible dividends will remain at 10% of the taxable grossed-up dividend.
bulletNew carbon levy will be introduced effective January 1, 2017, and will apply to purchases of all fossil fuels that produce greenhouse gas (GHG) emissions when combusted.  This will include fuels used for transportation purposes and fuels used for heating, such as natural gas and propane.  The levy will not apply directly to consumer purchases of electricity.
bulletClimate Leadership Adjustment Rebate (non-taxable) will be introduced in January 2017 to offset the costs of the carbon levy to low and middle income Albertans.  Payments will be made quarterly for those eligible for an annual amount of $400 or more, twice yearly for those eligible for at least $200 but less than $400, and annually for those eligible for more than $100 and less than $200.  No rebates under $100 will be made.  See more detailed information on Alberta's Climate Carbon Pricing page.

2015 Budget - October 27, 2015

Bill 2 June 29, 2015

On June 29, 2015, the Alberta NDP government passed Bill 2, which introduced higher corporate and personal income tax rates.

Highlights of announcement regarding Bill 2:

bulletnew tax bracket and tax rates implemented effective October 1, 2015, so prorated rates will be in effect for 2015
bulletgeneral corporate income tax rate increase from 10% to 12% effective July 1, 2015
bulletHealth care contribution levy will  not be implemented.

For details of the previous Conservative government's budget, which did not pass because they were not re-elected, see Alberta 2015-2020 Fiscal Tax Plan (pdf).

2014 Budget, on Alberta website - March 6, 2014 - no new taxes or tax increases

2013 Budget, on Alberta website - March 7, 2013 - no new taxes or tax increases

2012 Budget and Tax Plan (pdf), both on Alberta website - February 9, 2012

Highlights:

Education property tax rates will be frozen at 2011 levels.

Scientific Research and Experimental Development (SRED) Tax Credit will be enhanced by eliminating the "grind" (no longer deducting the federal investment tax credit when calculating Alberta's credit).  This will be effective for tax years ending after March 31, 2012.

2011 Budget - on Alberta government website, as no new income tax changes were announced.  Revenue from personal and corporate income tax is forecast to increase by $1.4 billion to $12.3 billion in 2011-12, as a result of an improved economy.

2010 Budget - on Alberta government website, as no new tax changes were announced.

2009 Budget - on Alberta government website, as no new tax changes were announced.

2008 Budget

2007 Budget

 

 

 

Revised: April 14, 2016

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