Highlights of the Alberta Budget 2017, part 1

by in Canadian Government News and Updates
Highlights of the Alberta Budget 2017, part 1
The Government of Alberta recently released its 2017 budget which focuses supporting changes to make life more affordable for Albertans, creating jobs and building a diversified economy and protecting and improving the services and supports that make a difference in the lives of Albertans.

Here is an overview of the highlights and changes to revenue and expenditures in this year’s provincial budget.

-      Provincial revenue is projected to be $45 billion for 2017-18.  Revenue comes from sources such as taxes, non-renewable resource revenue, federal transfers and investment income.
-      Deficit is expected to be at $10.3 billion.
-      Provincial debt climbs to $45 billion this year and $71 billion by 2019-20.
-      Rate of growth for operating expenses will be 2.2% for 2017-18, compared to 3.9% in 2016-17.
-      Government forecasts economic growth of 2.6% in the coming year.
-      Budget 2017 continues the significant infrastructure investment from last year.  The capital plan will support $29.5 billion in infrastructure projects over 4 years.
-      Budget 2017 will make life more affordable by reducing school fees for parents with children in the K-Grade 12 education system, extending the tuition freeze in post-secondary institutions, ensuring stable and affordable electricity prices, and providing carbon levy rebates, among other things.
-      Budget 2017 will provide $71 million for 2 tax credits to encourage investors to support small and medium sized companies and encourage business capital investments.

 We’ll take a look at more budget highlights on our next blog as well as what the provincial government has to say with regards to income taxes for this year.

Source:  https://www.alberta.ca/budget-highlights.aspx#p5360s6
Rate this blog entry:
0
KD PROFESSIONAL is a group of interconnected companies offering a wide range of financial, accounting and tax services to individuals and businesses across Canada.

Through our experienced staff and strategic alliances, we provide exemplary service and solutions to maximize your cash flow, while preserving Wealth.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest
Guest Friday, 28 April 2017
Subscribe

If you have a question about one of our products or services, please do not hesitate to contact us!
Please Enter Your Name
Please Enter A Valid Email
Please Enter Your Phone Number
Please select your preferred method of contact.
Refresh Please letters shown!

KD Professional Services
Monday-Friday 9am- 5pm
102, 221 18th Street SE
Calgary, AB, T2E 6J5

403-219-0602

Read our Tweets