Canada: Alberta tax provisions enacted

Canada: Alberta tax provisions enacted

Alberta Bill 2 includes tax changes and received Royal Assent on 29 June 2015. Bill 2 received its first reading on 18 June 2015. Alberta has a majority government.

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Among other changes, the bill introduces new tax brackets including an individual (personal) top marginal bracket of 15% that will be phased in for the 2015 tax year, and an increase to the corporate income tax rate to 12% (from 10%) effective 1 July 2015. Alberta's effective small business rate remains unchanged; the tax rate deduction for income eligible for the Alberta small business rate is increased to 9% (from 7%) effective 1 July 2015.

Read a July 2015 report prepared by the KPMG member firm in Canada: Alberta 2015 Tax Bill Receives Royal Assent 

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