Ads keep this website free for you. TaxTips.ca does not research or endorse any product or service appearing in ads on this site. Before making a major financial decision you should consult a qualified professional.	Alberta 2007 Budget	TaxTips.ca Canadian Tax and Financial Information
TaxTips.ca Home What's New		Links & Resources Site Map / Navigation

Need an accounting, tax or financial advisor? Look in our Directory. Use above search box to easily find your topic! Stay Connected with TaxTips.ca!

Home -> Alberta-> Alberta 2007 Budget

Alberta 2007 Budget

Tax changes effective for the 2007 tax year:

tax credit rate for charitable donations in excess of $200 increased from 12.75% to 21%

education tax credit amounts per month increased

	from $143 to $180 for part time students
	from $475 to $600 for full-time students

taxes on cigarettes being increased by 16% effective midnight April 19, 2007

Federal income tax measures affecting taxable income that automatically affect provincial taxable income in all provinces and territories except Quebec:

	effective January 1, 2007, eligible pension income can be split between spouses. See the article on pension splitting.
	lifetime capital gains deduction increased from $500,000 to $750,000.

See the Alberta 2007 Budget website for more details.

Revised: September 20, 2024

Facebook | Twitter | See What’s New, stay connected with TaxTips.ca by RSS or Email
The information on this site is not intended to be a substitute for professional advice. Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage.
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.