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2017-2018 Alberta budget highlights

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Mar 16, 2017

On March 16, 2017, the Minister of Finance, Joe Ceci, introduced Budget 2017, “Working to make life better.” The following is a summary of the tax highlights contained in the budget.

The budget anticipates economic growth in Alberta to be 2.6%, with the 2017-18 deficit expected to be $10.3B, a modest decrease from the $10.8B deficit in the prior year. It is expected that revenue will increase from $42.9B to $45.0B, while expenses will increase from $53.7B to $54.9B, with a further $0.5B reflected as a “risk adjustment” intended to provide a buffer against fluctuations in non-renewable resource revenue.

Deficits are projected to continue in 2018-19, with $9.7B projected, and 2019-20, with $7.2B projected. The budget did not predict when the province would return to balanced budgets or a surplus.

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

For further details, we refer you to the Ministry of Finance website.

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