Indexing the personal income tax system will save taxpayers an estimated $55 million in 2016 and a further $70 million in 2017.

Alberta’s personal income tax system is adjusted annually with inflation, ensuring the value of Albertans’ tax credits is not eroded over time and that taxpayers are not pushed into higher brackets by inflation.
 
As Albertans file their 2016 tax returns, they will notice their tax credit amounts were increased by 1.3 per cent, raising their basic personal and spousal amounts from $18,214 to $18,451 for 2016.
 
In 2017, Albertans will see these amounts— already the highest in Canada—increase by another 1.3 per cent to $18,690.
 
“Alberta’s exemption amounts and tax credits mean a typical family of four can earn up to $51,196 this year before paying any provincial income tax," said Minister of Finance, Joe Ceci. "That’s more money in every family’s pocket and is an example of how our government is working to make life affordable for Albertans.”
 
With the highest basic personal and spousal amounts, no sales tax and no payroll tax, Albertans benefit from the lowest overall taxes among the provinces.
 
This chart, courtesy Finance Alberta, helps explain the tax differences between 2016 and 2017. The chart assumes tax amounts include the Alberta Child Benefit and Alberta Family Employment Tax Credit.  For two income families, income and RRSP/RPP contributions are split 60/40 between the two spouses. RRSP/RPP contributions are, respectively, $0, $6,000, $10,000 and $25,000. Children in the chart are assumed to be six and 12 years-old.

 

 

2016

2017

Employment Income of $35,000 for one income family with two children

     Provincial income tax

(1,774)

(2,147)

Employment income of $75,000 for one income family with two children

     Provincial income tax

2,683

2,455

Employment income of $100,000 for two income family with two children

     Provincial income tax

4,776

4,676

Employment income of $200,000 for two income family with two children

     Provincial income tax

13,182

13,082

 

For the 2016 tax year, a one-income couple earning $75,000 with two children in Alberta will pay $3,555 less in total provincial taxes than they would in British Columbia and $1,380 less than they would in Saskatchewan.
 
In 2017, the same couple will pay $4,094 (BC) and $1,825 (SK) less in total provincial taxes, respectively.
 
Indexation of Alberta's personal income tax system is based on the year-over-year change in the Alberta Consumer Price Index for the 12-month period that ends September 30.

More Local News

Sold out venue for local musician's CD release party

25-year-old singer-songwriter Braden Gates entertained a full house for the release of his third CD.

Municipal tax decrease for 2017

More tax reductions are coming to Strathcona County.

Strathcona County senior murdered, son facing charges

A Strathcona County man is dead and his son is facing murder charges.

Dealing with black mould

Understanding what causes black mould can help keep it at bay.

Strathcona County RCMP find missing person

After almost two months, police have found Rachael McNeilly.

Littlewood announces funding for Heartland region

Fort Saskatchewan and parts of Beaver County are receiving money from the provincial government to create economic diversity and jobs.

Mother nature delays sport field openings

Strathcona County sports fields are feeling the wrath of the inconsistent temperature.

Flags at half mast to mourn lost workers

Fort Saskatchewan City Hall and some other buildings have lowered their flags to mark Worker's Mourning Day.

Sturgeon community groups get much-needed funding

Sturgeon County community associations are getting some cash from council.

Sturgeon County brings in more money, lowers taxes

Increased revenue resulted in lower Sturgeon County taxes.

8,500+ swoop in for Chamber Trade Show and Sale

The 2017 Fort Saskatchewan Chamber of Commerce Trade Show and Sale went off well.

Major improvements coming to Centennial Park

Outdoor shows in Bon Accord will have a new venue this summer.

Small town mischief hits Gibbons

Is vandalism on the rise in Gibbons?

Sturgeon County celebrates volunteers and farmers

Sturgeon County celebrated their finest last night (April 26) at the Sturgeon Proud Awards Night.

Census underway with half of residents responding

The City of Fort Saskatchewan is half way through their municipal census and so far, participation has been satisfactory.

Sportsplex construction manager choosen

Morinville is one step closer to having a top notch facility.

Council approves tax hike

The City of Fort Saskatchewan is getting ready to collect taxes.

Senior's Week being celebrated locally

Gibbons has set out official dates for Senior's Week.

Accusations of bullying, intimidation fly at city council

Harsh accusations were flying in Fort Saskatchewan council chambers.

Local high school gets more wheels spinning

Mechanics students in Strathcona County are getting some new gear.

DiscoverWestman.com is Westman's only source for community news and information such as weather and classifieds.

Search the Biz Guide

RMLL: Calgary Shamrocks vs. Fort Sask Junior B Rebels

30 April 2017 1:00 pm - 3:00 pm

Jubilee Recreation Centre, Fort Saskatchewan





Newbee Parents program

01 May 2017 1:00 pm - 2:00 pm

Families First Society Fort Saskatchewan, Fort Saskatchewan





After School Lego

01 May 2017 3:30 pm - 4:30 pm

Fort Saskatchewan Public Library, Fort Saskatchewan





FSPL Board Meeting

01 May 2017 6:00 pm

Fort Saskatchewan Public Library, Fort Saskatchewan





Minecraft Club

02 May 2017 6:30 pm - 7:30 pm

Fort Saskatchewan Public Library, Fort Saskatchewan





#StressedOut

03 May 2017 3:00 pm - 4:30 pm

City Hall – Lang Room, Fort Saskatchewan





The Legend of George Jones featuring Duane Steele

04 May 2017 7:30 pm

Shell theatre, Dow Centennial Centre, Fort Saskatchewan





Login