Tax Insights from Tax Services Issue 2024-07 2024 Alberta budget: Tax highlights February 29, 2024 In brief On February 29, 2024, Alberta's President of Treasury Board and Minister of Finance, Nate Horner, presented the province's budget. The budget does not change corporate income tax rates...
corporate income taxeconomic growthinvestmentemploymentShortly after its election in May 2019, the new Alberta government began fulfilling its promise to reduce the provincial corporate income tax (CIT) rate. The raDahlby, BevFerede, Ergete
low business taxes are a part of Alberta’s Recovery Plan, as well as low personal taxes to help Albertans keep more in their pockets.No changes were made to the existing personal and corporate tax rates.
The basic personal income tax rate was 44.3 percent in 2003. The average family of four (two parents and two children) earned C $95,349 in 2003, and paid C $40,219 in taxes. Effective as of April 2003, the provincial general corporate income tax rate was 12.5 percent, and 4 percent...
One would be a reduction in the corporate tax rate from 12 to eight per cent, which the UCP government has already announced. Another would be to maintain the full provincial carbon tax imposed by the previous NDP government, but ensure that it is revenue neutral. The progressive rate ...
According to Alberta's 2009 budget, government revenue in that year came mainly from royalties on non-renewable natural resources (30.4%), personal income taxes (22.3%), corporate and other taxes (19.6%), and grants from the federal government primarily for infrastructure projects (9.8%).[117]...