Sunday, May 26, 2024

New Provincial Tax Credits Announced

On January 12 the Government of Alberta announced two new tax credits.

The Capital Investment Tax Credit (CITC) will have three competitive application intake periods, with the first beginning Jan.16, 2017 and ending Feb. 15, 2017.

The Alberta Investor Tax Credit (AITC) will be provided on a first-come, first-served basis. Intake for the AITC will begin Jan. 16, 2017, remaining open until the annual funding for the program is fully allocated.

Legislation creating the two credits passed unanimously late last year. The credits are expected to support at least 9,000 jobs and add $1.2 billion to Alberta’s GDP.

You can read the government media release here.