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Alberta Hikes 2015 Personal and Corporate Taxes

Posted under: IPP

Alberta has introduced new tax brackets including a personal top marginal bracket of 15% that will be phased in for the 2015 tax year, and increased the corporate income tax rate to 12% (from 10%) effective July 1, 2015, among other changes. These amendments are consistent with election campaign promises made before Alberta’s election on May 5, 2015. Alberta is expected to release a budget in fall 2015.

You can view KPMG’s full summary of these new tax measures here.