Alberta announces strong economic activity - Retail Council of Canada

Alberta announces strong economic activity

September 7, 2022

High revenue forecast for bitumen royalties, other resource revenue, and corporate income taxes have increased the province’s forecast surplus to $13.2 billion for 2022-23. This year’s surplus enables the government to make $13.4 billion repayment of debt that comes due this fiscal year, and a significant contribution to the province’s “rainy day” Heritage Fund.

More directly, Albertans will see their personal income tax exemption rate indexed to inflation, rising in 2022 to $19,814. Albertans already pay less in overall taxes, with no PST, no payroll tax, and no health premiums.

For questions or more information contact

John Graham
Director, Government Relations (Prairies)
204 926-8624