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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