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Corporate income tax special notice Vol. 5 No. 52 : Job Creation Tax Cut

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Bill 3, Job Creation Tax Cut, received Royal Assent on June 28, 2019. The general income tax rate on businesses was originally scheduled to be reduced from 12 per cent to 8 per cent over four... More ≫

Description

Bill 3, Job Creation Tax Cut, received Royal Assent on June 28, 2019. The general income tax rate on businesses was originally scheduled to be reduced from 12 per cent to 8 per cent over four years. However, as part of Alberta’s Recovery Plan, the Job Creation Tax Cut will be accelerated in order to decrease the general income tax rate on businesses from 10 per cent to 8 per cent, effective July 1, 2020.

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