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2016-2017 Alberta budget highlights

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Apr 14, 2016

On April 14, 2016, the Minister of Finance, Joe Ceci, released the 2016-2017 Alberta budget. The most notable elements of the budget are represented by the introduction of $9.6 billion of total carbon tax and compliance payment revenue over the next five years (to be generated by the implementation of recommendations from the Climate Change Advisory Panel) and ongoing deficits through 2018-2019, at which point the deficit will remain at $8.4 billion and represent a debt-to-GDP ratio of 15.5%, up from 6.0% forecast in 2015-2016.

The budget forecasts a deficit of $10.4 billion in 2016-2017, and will continue at $10.1 billion in 2017-2018 and $8.4 billion in 2018-2019. There is no clear indication as to when the deficits will cease.

As an effort to spur investment in eligible small and medium-sized enterprises in Alberta, the Alberta Investor Tax Credit is being introduced, projected to be worth an aggregate of $90 million over two years. No details as to how the credit will be introduced, or eligibility requirements, are available at this time.

The announced changes to taxation in Alberta are outlined in our Canadian tax alert.

For further details, we refer you to the Alberta Treasury Board and Finance website.

Correction list for hyphenation

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