Alberta
Statutes and Regulations Note that if you search the Statutes
and Regulations, you will also see the amendments that are awaiting proclamation.
new 2025 tax bracket for income up to $60,000 with an 8% tax rate.
new supplemental non-refundable tax credit equal to 2% of the total amount
of certain non-refundable tax credits claimed by an individual that exceeds
$60,000. This credit will be indexed starting in 2026.
education property taxes will increase in 2025-26 from 0.256% to 0.272%
for residential/farmland properties and from 0.376% to 0.4% for
non-residential properties.
locomotive fuel tax will increase from $0.055 to $0.065 per litre
effective March 1, 2025.
entitlements to two cancelled tax credit programs will end after December
31, 2025:
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.
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.
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.
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.
- 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.
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.
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.