The Jobs First Plan
When I chat with residents of Calgary-South East one of the most important issues that I hear from residents on the doors is the economy. We need to create a climate where people want to invest and where employers have the confidence to hire.
Earlier this week the Alberta Party released our Jobs platform to attract investment and create jobs for Alberta families. You can click on the link to read the full details or you can take a look at some of the key points below.
– The Alberta general corporate tax rate will be reduced from 12% to 10%. This will restore Alberta’s place as the most competitive jurisdiction in Canada on corporate tax rates. The rate will be rolled out in 0.5% increments.
– The Alberta Small Business Deduction will be doubled from $500,000 to $1,000,000. All other aspects of the Small Business Deduction will remain the same, including the existing small business tax rate of 2%.
– The capital cost allowance in Alberta will be adjusted to 100% for all new investment. This will supercharge private investment.
– This package will have a short-term budget impact in the first year of approximately $400 million. The package will pay for itself by its third year and by full implementation in 2023 it will generate an estimated $1.5 billion in additional annual revenue.