Canada: Tax changes in Alberta budget bill, enacted

Alberta budget bill enacted

Changes to Alberta's individual (personal) tax credits are among the measures included in the Alberta budget bill that received Royal Assent on 11 December 2015. Several of the tax measures that were announced by the province's NDP government in the budget put forward in October 2015 therefore have been enacted.

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Other changes:

  • Increase the insurance premium tax rates for premiums receivable by an insurer to 3% on premiums for life, accident and sickness insurance (from 2%), and to 4% on other contracts of insurance (from 3%), effective 1 April 2016
  • Increase the locomotive fuel tax to 5.5 cents per litre (from 1.5 cents), effective 1 November 2015

 

Read a December 2015 report [PDF 49 KB] prepared by the KPMG member firm in Canada: Alberta 2015 Budget Bill Receives Royal Assent

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