Alberta Bill 2 received Royal Assent on June 11, 2018.
Bill 2 includes measures to introduce the Interactive Digital Media Tax Credit and modify the Alberta Investor Tax Credit, as described in the 2018 provincial budget. However, the province has not yet published key regulations needed to apply the changes in the bill.
The corporate income tax measures in Bill 2 are considered substantively enacted for IFRS and Accounting Standards for Private Enterprise (ASPE) purposes on March 14, 2018, which is when the bill received first reading in the provincial legislature (since Alberta has a majority government). The corporate income tax measures in Bill 2 are considered enacted for U.S. GAAP purposes on June 11, 2018, the date the bill received Royal Assent.
For more information, contact your KPMG adviser.
Information is current to June 12, 2018. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500
© 2018 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.