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Alberta Budget 2018: Highlights of the Tax Planin Canadian Government News and Updates
- A new Interactive Digital Media Tax Credit worth 25% of eligible labour costs.
- An extension of the Alberta investor Tax Credit and Capital Investment Tax Credit to 2021-22.
- Indexation of the personal income tax system, saving Albertans $65 million in 2018.
- Holding the total amount collected from education property taxes steady at the 2017-2018 level.
- Confirmation of the tax revenue collection mechanism for cannabis.
Alberta Budget 2018 mentions that our province continues to have an overall tax advantage compared to other provinces – no sales tax, no health premium and no payroll tax. In fact, Albertans and Alberta businesses would pay at least $11.2 billion more in taxes and carbon charges if Alberta had the same taxes and carbon charges as any province.
On our next blog, we will be looking into more detail with regards to these highlights of the tax plan so please check back soon!