On April 15, 201, the Alberta government tabled its Budget 2016. It has 4 key pillars:
- Supporting families and communities
- Investing in infrastructure
- Diversifying our energy industry and our energy markets
- Supporting Alberta businesses
Here are four ways Albertans will be affected by the Budget:
Alberta Child Benefit and Enhanced Alberta Family Employment Tax Credit will allow Alberta families to receive more support.
Alberta post-secondary students will receive tuition freeze, and an extension of expiring student mental health grants.
- Carbon tax
As of January 1, 2016, Albertans will pay an additional 4.49 cents per litre of gasoline, and 5.35 cents for diesel. In 2018, the costs increase to 6.73 cents per litre of gasoline, and 8.03 cents for diesel.
- Small Business
It will reduce Alberta’s small business corporate income tax rate from 3% to 2% as of January 1, 2017.
For more information about Alberta 2016 Budget, please visit the Alberta government website: http://www.alberta.ca/budget.cfm