The province's corporate income tax rate would drop from 12 per cent to 8 per cent.
alberta tax reform
The province has one of the highest top personal income tax rates in North America.
Alberta now has the 10th highest top personal income tax rate in Canada or the U.S.
Alberta’s personal income tax return relies on federally-determined income to calculate provincial income.
The last time Alberta was in a fiscal mess due to low energy revenues and over-the-top government spending, some politicians and pundits said what Albertans really needed was higher taxes. That was back in the late 1980s and early 1990s. Those voices were wrong then and they are wrong now.
For one thing, any fantasy that a tax hike will solve Albertas fiscal woes is the preserve of people who dream in tax-happy Technicolor.
Sure, tax reform is desirable. A provincial sales tax would be smart economic policy since sales taxes are some of the least harmful imposts.