Alberta Budget 2017

Alberta Finance Minister Joe Ceci delivered the province’s 2017 budget on March 16, 2017. The budget anticipates a deficit of $10.3 billion for the 2017-2018 fiscal year, $9.7 billion for 2018-2019 and $7.2 billion for 2019-2020.

Corporate Income Tax Measures

No changes to corporate taxes were announced.

Corporate Income Tax Rates- As of January 1, 2017
 Alberta  Combined Federal & Alta
 General  12%  27%
 M&P  12%  27%
 Small Business*  2.0%  12.5%
 *on first $500,000 of active business income

Personal Income Tax Measures

Introduction of legislation to adjust Alberta’s dividend tax credit rate on non-eligible dividends for 2017 and subsequent years to address federal tax changes, however no further details were provided.

Personal Combined Federal/Provincial Top Marginal Rates
 2017
 Interest and regular income  48.0%
 Capital gains  24.0%
 Eligible dividends  31.7%
 Non-eligible dividends  41.2%
  • Political Contributions Tax Credit: Eligible political contributions tax credit to party leadership elections and candidate nomination races, effective for contributions made on or after January 1, 2017. This credit is worth 75% on the first $200 in donations, 50% on the next $900 and 33.33% on the next $1,200, for a maximum credit of $1,000 on a total contribution of $2,300.
  • Education Property Tax: Freezes the education property tax rates for 2017‑18 and residential/farmland rate remains at $2.48 per $1,000 of equalized assessment and the non‑residential rate will remain at $3.64.

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