Alberta's 10% Capital Investment Tax Credit—Get in Line | KPMG | CA

Alberta's 10% Capital Investment Tax Credit—Get in Line

Alberta's 10% Capital Investment Tax Credit—Get in Line

Alberta companies that invest in capital assets may benefit from a new tax credit.

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The Alberta Capital Investment Tax Credit program offers a 10% non-refundable tax credit of up to $5 million to eligible Alberta companies involved in manufacturing, processing and tourism infrastructure. As part of a competitive process, in order to be considered for the credit, companies must apply to the Alberta government between July 17 and September 8, 2017. This is the second of three intake periods to apply for the credit.

Background
In its 2016 provincial budget, Alberta announced a new Capital Investment Tax Credit for corporations that make investments in eligible capital assets such as buildings, equipment and machinery. The credit will apply to the first time acquisition of new and used property in manufacturing, processing and tourism infrastructure.

Apply before September 8
The credit is available to corporations that are incorporated or continued in Alberta and are involved in manufacturing, processing and tourism infrastructure. In addition, corporations must make eligible capital investments of $1 million or more.

Alberta notes that all applications are evaluated through a competitive process and are reviewed against the program guidelines for qualifying investments and economic impact.

For more information, contact your KPMG adviser.

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