06 Nov 2015

The NDP’s have declared their first new budget for Alberta. Although there doesn’t seem to be any major cuts on services, there are some taxes that we should be worried about. Watch the video above, or read further below for more information!

Changes Addressing Families

  • – Tuition Freeze for the next 2 years
  • – $2,750 for lower income families (Revision of the Alberta Family Employment Credit)
  • – Increased support for woman’s shelters, childcare programs, senior’s health care, disabled individuals
  • – New nutritional programs for school
  • – Additional funding for school fees


Changes in Personal Income Taxes

  • – Flat tax is gone, meaning if your income is less than $125,000 there is a 10% alberta tax rate (remains the same for majority). If you are over $200,000 in income, it is 11% in 2015, and 14% in 2016.


Changes in Small & Large Businesses

  • – 3% flat tax on corporations (remains the same)
  • – Job Creation Incentive of $5000 towards cost of new job creations in 2016
  • – Increased funding for small businesses


Changes in Sin taxes

  • – $5 added towards a carton of cigarettes, $50 of the purchase of cigarettes is tax
  • – 5% more on alcohol


Alignment with the new Federal (Liberal) Government

  • – There is an alignment in the budget with the areas of families, lower income, child benefits, infrastructure spending


Follow us on Twitter and Facebook for more updates on ongoing topics!