- Read our full story on the Alberta budget
The looming deficit
Carbon taxes
An economy-wide carbon tax will come into effect in 2017 and raise $2.4-billion annually when fully implemented. Revenues are then expected to slowly decline in following years as Albertans emit less carbon.
The government will provide non-taxable rebates to help Albertans adjust to additional costs tied to carbon levies, such as fuel taxes (outlined below). The refunds will be adjusted based on household income and children. Single adults, depending on income, are eligible to receive up to $200 per year, $100 for a spouse, and $30 for each child under 18 to a maximum of four. The net income "phase-out" threshold begins at $95,000 for families and $47,500 for single adults.
- Read our full story: Albertans to pay more for energy in NDP’s ambitious climate strategy
Gas prices on the rise
Fuel taxes will rise for the third time in three budgets starting on Jan. 1, 2017:
- Gasoline will climb 4.49 cents per litre on top of the current 13 cents per litre
- Diesel will climb 5.35 cents per litre on top of the current 13 cents per litre
- Natural gas will climb $1.011 per gigajoule
- Propane will climb 3.08 cents per litre on top of the current 9.4 cents per litre
- Additional taxes will be applied to other fuels
These taxes will rise again on Jan. 1, 2018, on top of the 2017 increase:
- Gasoline will rise 2.24 cents per litre
- Diesel will rise 2.68 cents per litre
- Natural gas will rise $0.506 per gigajoule
- Propane will rise 0.54 cents per litre
- Additional taxes will be applied to other fuels
Jobs relief
The budget contains a $250-million plan designed to create 100,000 jobs over three years. It includes:
- $165-million in tax credits to encourage investors to support small and medium-sized companies
- $25-million for the Alberta Enterprise Corp. to spend in an effort to “spur innovation, growth and employment in areas such as clean technology.”
- $25-million for apprenticeship and training programs
- $35-million “to attract and support new businesses to pursue regional economic development initiatives.”
Small business
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