Alberta -> Alberta Budgets
Alberta Budgets
Alberta's Recovery Plan - June 29, 2020
Bill 35, Tax Statutes (Creating Jobs and Driving Innovation) Amendment Act, 2020, tabled October 20, 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
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:
| 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).
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.
Revised: December 22, 2020