Alberta’s Finance Minister Travis Toews delivered the province’s 2020 budget on February 27, 2020.
The budget anticipates a deficit of $6.8 billion for 2020, and projects a deficit of $2.7 billion for 2021 and a surplus of $706 million for 2022. Although the budget does not include any new changes to the corporate or personal tax rates, it introduces a new 20% tax on vaping products, extends Alberta’s 4% tourism levy to short-term rentals offered through online marketplaces and increases the education property tax.
Download this edition of the 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.