Upcoming Changes To Alberta's Corporate Tax Rate

In what Premier Jason Kenney is calling the "largest infrastructure build" in Alberta's history, the Alberta government is set to slash the corporate tax rate from the current 10% to 8%.

While this may seem like familiar news to those keeping an eye on Alberta's shifting corporate tax landscape since the United Conservative Party was elected as a majority in Alberta last year, Premier Kenney announced on June 29, 2020 that the reduced tax rate will be effective July 1, 2020 – one and a half years ahead of the Government of Alberta's original proposal to reduce corporate tax rates to 8% by January 1, 2022.

This reduction in corporate tax is just one prong of the Government of Alberta's recent plan to reboot Alberta's economy which has recently experienced an unprecedented downturn due to lockdown efforts to reduce the spread of COVID-19, reduced global consumption of oil, and the March 2020 oil price war. In addition to the reduced corporate tax rate, Albertans can