What’s the policy called? 

Reduce Alberta Corporate Income Tax Rates

When was this policy passed? 

May 2022

What are the key points of this policy? 

• Lower taxes will help attract and grow local businesses

What do we suggest? 

We suggested that:

• Alberta’s small business and corporate tax rates are lowered so that we always have the lowest taxes in Canada.

Who are we suggesting it to?

The provincial government

What are the details?

We all know that taxes suck. We also all know that it really doesn’t matter how much taxes suck – we’re still going to have to pay them. Now that we’ve agreed on that, we need to discuss how much taxes are reasonable because too high or too low of taxes can have unintended consequences. The fact of the matter is we’re likely never going to reach a consensus on that particular point.

In the same way that we make certain decisions based on how much taxes we’re going to have to pay, we know that businesses and large corporations consider that same information. If a business is going to have to pay too much tax in one location, they’re just going to decide to go somewhere else.

Alberta used to have the lowest small business tax rate in Canada. Now, there are 3 provinces with lower small business taxes than us. With the world getting increasingly more mobile, there have been more opportunities to take businesses overseas to take advantage of lower taxes. It’s not just big corporations that are making these decisions – it’s our small businesses too.

Ultimately, we need to keep our tax rate competitive so that we can grow our local economies.

Want to read the whole policy? 

You can find it here: https://chamber.medicinehatchamber.com/archives/Details/reduce-alberta-corporate-income-tax-rates-co-sponsor-123148