The Alberta government has introduced legislation that would protect people and businesses against future tax rate increases. “Albertans are not interested in higher taxes and that’s one of the reasons they elected us in the spring: we promised to reduce the taxes they pay and protect them from future tax increases,” said Alberta Premier Danielle Smith in a Monday press release. “We are building a strong economy and the stronger that economy is, the higher tax revenue we receive, all while keeping taxes low.” Smith called this “good for all Albertans, and I’m proud to table this legislation.”The Alberta government said the Alberta Taxpayer Protection Amendment Act (ATPAA) fulfills a promise from it and would ensure people are guaranteed a say in whether or not their taxes are increased. If passed, it said it would prevent the government from increasing personal and corporate tax rates without first consulting Albertans through a referendum now and in the future. Albertans and Alberta businesses pay the lowest overall taxes in Canada, and the ATPAA will protect that. At 8%, Alberta’s corporate tax rate is 30% lower than the next lowest Canadian province. Its combined corporate tax rate with the Canadian government is lower than that of 44 American jurisdictions. Alberta’s corporate tax revenue in 2022-2023 was $8.2 billion — the most it has ever recorded in a single fiscal year. This revenue comes as business incorporations have increased three years in a row. “With the lowest overall taxes in the country, Alberta’s tax advantage is clear and it’s important we do everything that we can to protect it,” said Alberta Treasury Board President and Finance Minister Nate Horner. “By protecting Albertans and Alberta businesses from future tax rate increases, we’re furthering our commitment to Alberta’s low-tax, pro-growth environment.”If passed, the Alberta government said the ATPAA would prevent it from reducing personal income tax bracket thresholds or basic personal, spousal and equivalent-to-spouse credit amounts without a referendum.“This strengthening of the Alberta Taxpayer Protection Act sets Alberta apart when it comes to respecting taxpayers’ money,” said Canadian Taxpayers Federation Alberta Director Kris Sims. “This is a landmark win for taxpayers.”Smith signed the No Tax Hike Guarantee in April, promising not to increase personal or business taxes if re-elected.READ MORE: UPDATED: Smith pledges to not raise taxes if re-elected“The current Taxpayer Protection Act already provides protection against the introduction of a provincial sales tax,” she said. “But under a UCP (United Conservative Party) government, we will expand the act to include personal and corporate income taxes so no government can increase them without approval from Albertans through a referendum.”
The Alberta government has introduced legislation that would protect people and businesses against future tax rate increases. “Albertans are not interested in higher taxes and that’s one of the reasons they elected us in the spring: we promised to reduce the taxes they pay and protect them from future tax increases,” said Alberta Premier Danielle Smith in a Monday press release. “We are building a strong economy and the stronger that economy is, the higher tax revenue we receive, all while keeping taxes low.” Smith called this “good for all Albertans, and I’m proud to table this legislation.”The Alberta government said the Alberta Taxpayer Protection Amendment Act (ATPAA) fulfills a promise from it and would ensure people are guaranteed a say in whether or not their taxes are increased. If passed, it said it would prevent the government from increasing personal and corporate tax rates without first consulting Albertans through a referendum now and in the future. Albertans and Alberta businesses pay the lowest overall taxes in Canada, and the ATPAA will protect that. At 8%, Alberta’s corporate tax rate is 30% lower than the next lowest Canadian province. Its combined corporate tax rate with the Canadian government is lower than that of 44 American jurisdictions. Alberta’s corporate tax revenue in 2022-2023 was $8.2 billion — the most it has ever recorded in a single fiscal year. This revenue comes as business incorporations have increased three years in a row. “With the lowest overall taxes in the country, Alberta’s tax advantage is clear and it’s important we do everything that we can to protect it,” said Alberta Treasury Board President and Finance Minister Nate Horner. “By protecting Albertans and Alberta businesses from future tax rate increases, we’re furthering our commitment to Alberta’s low-tax, pro-growth environment.”If passed, the Alberta government said the ATPAA would prevent it from reducing personal income tax bracket thresholds or basic personal, spousal and equivalent-to-spouse credit amounts without a referendum.“This strengthening of the Alberta Taxpayer Protection Act sets Alberta apart when it comes to respecting taxpayers’ money,” said Canadian Taxpayers Federation Alberta Director Kris Sims. “This is a landmark win for taxpayers.”Smith signed the No Tax Hike Guarantee in April, promising not to increase personal or business taxes if re-elected.READ MORE: UPDATED: Smith pledges to not raise taxes if re-elected“The current Taxpayer Protection Act already provides protection against the introduction of a provincial sales tax,” she said. “But under a UCP (United Conservative Party) government, we will expand the act to include personal and corporate income taxes so no government can increase them without approval from Albertans through a referendum.”
