Alberta’s Finance Minister Travis Toews delivered the province’s 2019 budget on October 24, 2019.
Alberta’s Finance Minister Travis Toews delivered the province’s 2019 budget on October 24, 2019. The budget anticipates a deficit of $8.7 billion for 2019, and projects deficits of $5.9 billion for 2020 and $2.6 billion for 2021. Although the budget does not include any new changes to the corporate or personal tax rates, it cancels several tax credits, including the Scientific Research and Experimental Development (SR&ED) Tax Credit, and pauses the annual indexation of personal non-refundable tax credits and tax bracket thresholds.
Download this edition of TaxNewsFlash to learn more.
© 2020 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.