Not only do high-earning families in Alberta pay the majority of all taxes in the province, they’re also the only income group to pay disproportionately more than their share of total income.
As Alberta MLAs prepare to return to Edmonton for the fall session of the legislature, tax reform should be near the top of the agenda — with an eye on spurring economic growth and prosperity in the province. Earlier this year, the Smith government introduced a new provincial personal income tax bracket that cut the province’s bottom personal income tax rate from 10% to 8% for income up to $60,000. And the Carney government recently cut the bottom federal rate from 15% to 14% for income up to $57,375. These tax cuts will deliver some tax relief for Albertans across the income spectrum.
But they also