Posted on May 2, 2017
February 2017 Constituency Newsletter
Hello Calgary Bow,
Thank you to everyone who stopped in at my annual Winter Open House in January. It was nice to talk with you about our hopes and goals for the New Year, and for this month’s newsletter. I would like to reflect on some of the steps our government has taken so far to support all Albertans in 2017.
By the end of January, six out of every ten Albertans will have received their first Carbon Levy rebate cheque. In 2017, a single adult earning up to $47,500 per year will receive a rebate of $200. A couple earning up to $95,000 per year will receive $300. You will automatically receive these rebates if you filed your 2015 Income Tax Return. If you qualify for the climate levy rebate but did not receive one, please contact my office and my team will assist you.
January 1 also marked a 33% decrease in small business tax for Albertans, which will save small business owners $185 million this year alone. Alberta now has the second-lowest small business rate in Canada. We can celebrate the fact that our province maintains the lowest overall tax regime in Canada - with no provincial sales tax, health premium or payroll tax - meaning Albertans across all income ranges continue to pay the lowest overall taxes when compared to other provinces.
As part of our strategy to encourage investment in non-traditional sectors with strong job creation potential, the Government of Alberta has created an Alberta Investor Tax Credit (AITC). This credit is applicable across sectors, offering a 30% tax credit to investors who provide capital to Alberta small businesses doing research, development or commercialization of new technology, products or processes. This program will assist small and medium sized businesses in acquiring equity financing from individual and corporate investors who will help them grow their businesses.
A Capital Investment Tax Credit also came into effect on January 16, 2017, providing $70 million in tax credits for investment in manufacturing, processing and tourism infrastructure that will spur economic diversification and job creation. This two-year program provides a non-refundable tax credit valued at 10% for corporations eligible capital expenditures up to $5 million.
This year Canada celebrates 150 years of Confederation and the provincial government has created a “Canada 150 Grant,” awarding $2 million dollars to support community projects that align with the themes of “Diversity and Inclusion, Reconciliation, Engaging and Inspiring Youth or Connecting Canadians with Nature and Raising Environmental Stewardship.” I am excited to connect with you at celebrations of this milestone around the constituency in the coming months.
As this is a new year, please remember that the Government of Alberta is no longer providing renewal notices for automobile registration. I encourage you to check your vehicle registration and renew for the year before it expires, and sign up for electronic reminders.
Deborah Drever, MLA
Calgary - Bow