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Alberta -> Alberta Budgets -> Alberta 2016 Budget

Alberta 2016 Budget - April 14, 2016

 - on Alberta website

Tax Changes in the 2016 Budget:

bullet Introduction of two tax credits for individuals and corporations that invest in Alberta, further details will be available later this year:
bullet Alberta Investor Tax Credit will benefit investors who invest in eligible small and medium-sized enterprises in Alberta.
bullet Capital Investment Tax Credit will benefit corporations that make investments in eligible capital assets.
bullet Small business corporate income tax rate will be reduced from 3% to 2% effective January 1, 2017.
bullet Dividend 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.
bullet Enhanced dividend tax credit rate for eligible dividends will remain at 10% of the taxable grossed-up dividend.
bullet New 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.
bullet Climate 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.  The carbon tax was repealed on May 30, 2019 by the new Alberta government.

Revised: October 26, 2023


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