Alberta’s accelerated corporate tax rate drop to 8% — Now substantively enacted
Alberta’s accelerated corporate tax rate drop to 8%
Bill 35 reduces Alberta’s general corporate income tax rate to 8% (from 10%) and introduces the Innovation Employment Grant
Alberta Bill 35 received first reading on October 20, 2020. The bill includes several previously announced measures including the accelerated drop in the province's general corporate income tax rate to 8% (from 10%), effective July 1, 2020. The bill also includes measures granting ministerial authority for certain temporary deadline extensions, introduces the Innovation Employment Grant and changes the eligible dividend tax credit rate effective in 2021.
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