The top combined personal income tax rate in Alberta is now 48 per cent compared to 39 per cent in 2014.
alberta income tax rate
Alberta has run nearly uninterrupted deficits since 2008/09.
If taxes are competitive and firms are incentivized to invest, jobs will be created.
An estimated 1,374 new businesses will not startup in the province due to the higher tax rate.
Since 2015, the Alberta government has increased corporate income taxes, implemented a carbon tax, and introduced more environmental regulations.
In 2015, the Notley government scrapped the single-rate personal income tax.
Alberta now has the 16th highest top personal income tax rate in North America.
Higher income taxes create disincentives for hard work and entrepreneurship, two important drivers of growth.
As oil royalties have fallen, Albertans have endured multiple tax hikes and a S&P downgrade.