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Alberta Budgets
All budget proposals are subject to legislative approval.
Alberta's Bill 32 - November 4, 2024
Alberta 2024 Budget - February 29, 2024
Alberta 2023 Budget - February 28, 2023
Alberta 2022 Q1 Update - August 31, 2022
Alberta 2022 Budget - February 24, 2022
Alberta 2021 Budget - February 25, 2021
Alberta's 2020 Recovery Plan - June 29, 2020
Alberta 2020 Budget - February 27, 2020
Alberta 2019 Budget - October 24, 2019
Alberta 2018 Budget - March 22, 2018
Alberta 2017 Budget - March 16, 2017
Alberta 2016 Budget - April 14, 2016
Alberta 2015 Budget - October 27, 2015
Alberta 2015 Personal and Corporate Income Tax Changes
Alberta 2014 and Earlier Budgets
Alberta's Bill 32 - November 4, 2024
The Alberta tax brackets and personal tax credit amounts are increased for 2025 by an indexation factor of 1.02 (2% increase), as per Alberta's Bill 32, Financial Statutes Amendment Act, 2024 (No. 2)
If Bill 32 did not apply, the Alberta increase for 2025 would be 2.9%
As per Bill 32, indexation in subsequent years will be the lesser of 2% or the amount determined using the change in the Alberta Consumer Price Index. Bill 32 received Royal Assent on December 5, 2024.
For more information see Updating financial laws on the Alberta website, which provides information on other legislative changes in Bill 32.
Alberta 2024 Budget - February 29, 2024
Alberta 2024 Budget - on Alberta government website
Bill 10, Financial Statutes Amendment Act, 2024, Royal Assent May 16, 2024.
Forecast includes surplus of:
 | $5.2B for 2023-24 |
| $0.4B for 2024-25 |
| $1.4B for 2025-26 |
| $2.6B for 2026-27 |
Tax measures proposed:
| new tax bracket for income up to $60,000 with 9% tax rate for 2026, with the rate reduced to 8% for 2027. This is contingent on the province maintaining sufficient fiscal capacity to introduce the tax cut while maintaining a balanced budget. |
| launching the one-time Alberta is Calling Attraction Bonus (Moving Bonus) - a $5,000 refundable tax credit to individuals working in eligible occupations who move to Alberta between May 1 and December 31, 2024, and who meet additional eligibility criteria. |
| freezing education property tax rates |
| joining the federal-provincial coordinated vaping tax framework |
| increasing taxes on cigarettes and smokeless tobacco effective March 1, 2024 |
| raising land title charges on the registration of properties and mortgages |
| new $200 annual tax on EVs, with a targeted effective date of January 1, 2025. The tax will not apply to hybrid vehicles. |
More details on the tax measures are provided in the 2024-27 Fiscal Plan (pdf), with the Tax Plan starting at page 119.
Alberta 2023 Budget - February 28, 2023
Alberta 2023 Budget - on Alberta government website
Fiscal measures proposed:
| New Agri-Processing Investment Tax Credit: non-refundable credit of 12% of eligible capital expenditures for corporations investing $10 million or more to build or expand agri-processing facilities in Alberta. |
| Increase in the donation tax credit rate as noted below in the Private Member's Bill information, effective for the 2023 taxation year. |
| Students: 2% cap on tuition increases 2024-25 & future years; Reducing student loan interest rates to prime; Repayment Assistance Plan qualification criteria increased to $40,000 of income from $25,000; Loan repayment grace period increased to 12 months from 6 months. |
| Increasing the Alberta non-refundable adoption expense tax credit for 2023 to $18,210 to match the federal threshold. Indexation in future years will be at the Alberta indexation rate. |
Most of the above measures, and more, are included in the Alberta 2023 Budget Highlights. More details on some of the tax measures are provided in the Fiscal Plan (pdf).
Bill 10, Financial Statutes Amendment Act, 2023 includes the legislation for the above tax measures, except the donation tax credit, which was included in Bill 202 as mentioned below. However, it does modify Bill 202 to deem the increase in the donation tax credit rate to have come into force on January 1, 2023. The 60% rate on the first $200 of donations is now in effect.
Private Member's Bill re Tax Credit Rate for Donations
On December 15, 2022, Bill 202, Alberta Personal Income Tax (Charitable and Other Gifts) Amendment Act, 2022 (with notation "Awaiting Proclamation"), received Royal Assent. The bill will be in effect for 2023. A modification to Bill 202 was included in Bill 10 above, to deem the increase in the donation tax credit rate to have come into force on January 1, 2023.
The bill provides for the first $200 of a charitable donation to get a donation tax credit of 60% instead of 10%. This would provide a total tax credit of 75% of the first $200 of donations, when including the 15% federal tax credit.
Once the bill has been proclaimed, it will be included in the Alberta Gazette Part 1.
Alberta 2022 Q1 Update - August 31, 2022
On August 31, 2022, Premier Jason Kenney announced that indexation of the personal tax system would be restored, retroactive to January 1, 2022.
Bill 2, Inflation Relief Statutes Amendment Act, 2022, includes the legislation for this change.
See the indexed 2022 and 2023 tax rate tables.
Alberta 2022 Budget - February 24, 2022
Surplus Targets
| $0.5 billion for 2022-23 |
| $0.9 billion for 2023-24 |
| $0.7 billion for 2024-25 |
Taxpayer Supported Debt Forecast
| 2021-22 $97.7 billion |
| 2022-23 $94.7 billion |
| 2023-24 $95.6 billion |
| 2024-25 $97.0 billion |
Tax measures:
| No personal or corporate income tax rate changes. | ||||
| Education property tax rates increases for:
| ||||
| 2022 legislation will require online marketplaces to collect and remit the Tourism Levy. | ||||
| Tobacco tax: as of March 1, 2022, smokeless products will be in a separate category, with rate reduced from $0.4125 per gram to $0.275 per gram. |
See 2022-23 Budget documents on the Alberta website.
Alberta 2021 Budget - February 25, 2021
Tax measures:
| No personal or corporate income tax changes. |
| COVID-19 recovery spending continues. |
| Education property tax revenue will remain frozen for 2021-22. |
| Measures to reduce property tax for oil and gas properties such as wells and pipelines. |
| Tourism levy abatement continues to March 31, 2021. |
See 2021-22 Budget documents on the Alberta website.
The Tax Plan is in the 2021-24 Fiscal Plan, Government and Ministry Business Plans, Budget Highlights and Budget Address.
Alberta's 2020 Recovery Plan - June 29, 2020
Bill 35, Tax Statutes (Creating Jobs and Driving Innovation) Amendment Act, 2020, which received Royal Assent December 9, 2020, includes the following tax changes.
- Above is on Alberta website. Tax changes announced:
| Job Creation Tax Cut: Corporate income tax rate reduced to 8% effective July 1, 2020, 1.5 years earlier than scheduled. Corresponding with this, the dividend tax credit rate for eligible dividends will be adjusted on January 1, 2021. |
| Innovation Employment Grant: Refundable tax credit targeted to smaller companies and encouraging technology and investment in Alberta. |
Bill 35 received Royal Assent December 9, 2020.
Alberta 2020 Budget - February 27, 2020
- Above is on Alberta website. There were no new tax changes announced. The corporate general income tax rate reductions were previously announced. See 2020 Corporate Income Tax Rates.
More detail is provided on the vaping products tax and the tourism levy for short-term rentals, in their Tax Plan starting on page 170 in the Budget 2020 Fiscal Plan.
Alberta's target is to have deficits declining each year until they have a small surplus of $0.7 billion in 2022-23.
Alberta 2019 Budget - October 24, 2019
Alberta 2018 Budget - March 22, 2018
See Alberta 2018 Budget Documents for full details. The Tax Plan starts on page 123 of the Alberta 2018 Fiscal Plan (pdf), found on the 2018 Budget Publications page.
Tax Measures Announced (all measures are subject to legislative approval)
| Interactive Digital Media Tax Credit: Refundable tax credit, will provide eligible interactive digital media companies with a benefit worth 25% of eligible labour costs incurred after April 1, 2018. A diversity and inclusion credit enhancement worth up to an additional 5% will be available to companies that employ workers from under-represented groups. Program and application details will be available by summer 2018. |
| Alberta Investor Tax Credit (AITC) will be extended until 2021-22. Investors will also be eligible to receive an additional 5% credit if they invest in eligible business corporations that meet diversity and inclusion criteria. |
| Capital Investment Tax Credit (CITC) will be extended until 2021-22. |
| Cannabis Tax: The federal government will impose a federal excise duty of $0.25 per gram of flowering material in a cannabis product and will collect a $0.75 per gram additional duty on behalf of the province. An additional amount equivalent to 10% of the retail price, similar to what will be applied in other provinces, will also be collected, at the licensed producer level. |
| Education property tax rates will continue to be frozen for 2018-19. |
Alberta 2017 Budget - March 16, 2017
Alberta 2016 Budget - April 14, 2016
Alberta 2015 Budget - October 27, 2015
Alberta 2015 Personal and Corporate Income Tax Changes
Bill 2, An Act to REstore Fairness to Public Revenue
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:
| new tax bracket and tax rates implemented effective October 1, 2015, so prorated rates will be in effect for 2015 |
| general corporate income tax rate increase from 10% to 12% effective July 1, 2015 |
| Health 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).
Alberta 2014 and Earlier Budgets
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, 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.
2007 Budget December 12, 2024