The Federal Tax System and New Provincial Bills in Alberta
In 2018, Liberal MP’s claimed that through lowering Federal business tax rates, that small businesses would save up to $7,500 per year on taxes. However, according to a local accounting firm who did the math, these numbers didn’t add up.
Working with local businesses, we know other small business owners who are challenging these statements too as they wrestle through Canada’s current economic climate. As advocates for local business, we have been keeping our eyes on Federal and Provincial policies to ensure we are always negotiating the best terms for current environments. We love how Achen Henderson discusses “small businesses being under attack” and the topic of Federal Tax Reform at Parliament in this video.
On a more local note, since their recent election, the United Conservative Party implemented two new bills which can have substantial impacts on our clients, and local businesses across Calgary. These two bills are:
Bill 2: “An Act to Make Alberta Open or Business”
Bill 3: “The Job Creation Tax Cut Act”.