IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

Yes

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 09 Dec 2016 | Removal date: 09 Dec 2018
Still in force

Tax or social insurance relief

On December 9, 2016 Bill 30, the Investing in a Diversified Alberta Economy Act, received royal assent. The bill establishes two tax credit programs. The Capital Investment Tax Credit (CITC) will incentivize capital investments that offer opportunities for economic growth. The Alberta Investor Tax Credit (AITC) will encourage investors to provide entrepreneurs with greater access to the capital they need to innovate and expand.

With a budget of Can.$70 million (US$55.92 million) over two years, the CITC offers a 10%, non-refundable tax credit of up to Can.$5 million (US$3.99 million) to Alberta companies involved in manufacturing, processing and tourism infrastructure. The CITC will be provided on a competitive basis to companies making eligible capital investments of Can$1 million (US$0.79 million) or more.

With a budget of Can.$90 million (US$71.89 million) over three years, the AITC 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, new products or new processes. It is also applicable to businesses engaged in interactive, digital media development, video post-production, digital animation or tourism. The AITC will be provided on a first-come, first-served basis.

 

 

AFFECTED COUNTRIES

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