{"id":19316,"date":"2023-03-02T00:51:58","date_gmt":"2023-03-02T00:51:58","guid":{"rendered":"https:\/\/stollerwealth.com\/2023\/03\/alberta-2023-budget-highlights\/"},"modified":"2023-03-02T00:57:16","modified_gmt":"2023-03-02T00:57:16","slug":"alberta-2023-budget-highlights","status":"publish","type":"post","link":"https:\/\/stollerwealth.com\/2023\/03\/alberta-2023-budget-highlights\/","title":{"rendered":"Alberta 2023 Budget Highlights"},"content":{"rendered":"<div>\n<style type=\"text\/css\">\n@-webkit-keyframes oryCellResizeableAnimate {<br \/>\n  0% {<br \/>\n    background-color: hsla(0,0%,100%,.26);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<\/p>\n<p>  50% {<br \/>\n    background-color: hsla(0,0%,100%,.12);<br \/>\n    top: 0;<br \/>\n    bottom: 0;<br \/>\n  }<\/p>\n<p>  to {<br \/>\n    background-color: hsla(0,0%,100%,.87);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<br \/>\n}<br \/>\n@keyframes oryCellResizeableAnimate {<br \/>\n  0% {<br \/>\n    background-color: hsla(0,0%,100%,.26);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<\/p>\n<p>  50% {<br \/>\n    background-color: hsla(0,0%,100%,.12);<br \/>\n    top: 0;<br \/>\n    bottom: 0;<br \/>\n  }<\/p>\n<p>  to {<br \/>\n    background-color: hsla(0,0%,100%,.87);<br \/>\n    top: 45%;<br \/>\n    bottom: 45%;<br \/>\n  }<br \/>\n}<br \/>\n<\/style>\n<style type=\"text\/css\"><\/style>\n<div class=\"juiced\">\n<div id=\"postToSend-15\">\n<div class=\"ory-row\" style=\"box-sizing: border-box; display: flex; -webkit-box-flex: 0; -ms-flex: 0 1 auto; flex: 0 1 auto; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -ms-flex-direction: row; flex-direction: row; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-right: 0; margin-left: 0; position: relative;\">\n<div class=\"ory-cell ory-cell-sm-12\" style=\"position: relative; box-sizing: border-box; -webkit-box-flex: 0; -ms-flex: 0 0 auto; flex: 0 0 auto; padding-right: .5rem; padding-left: .5rem; -ms-flex-preferred-size: 100%; flex-basis: 100%; width: 100%; min-width: 100%;\">\n<div class=\"ory-row ory-cell-inner\" style=\"box-sizing: border-box; display: flex; -webkit-box-flex: 0; -ms-flex: 0 1 auto; flex: 0 1 auto; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -ms-flex-direction: row; flex-direction: row; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-right: 0; margin-left: 0; position: relative;\">\n<div class=\"ory-cell ory-cell-sm-12\" style=\"position: relative; box-sizing: border-box; -webkit-box-flex: 0; -ms-flex: 0 0 auto; flex: 0 0 auto; padding-right: .5rem; padding-left: .5rem; -ms-flex-preferred-size: 100%; flex-basis: 100%; width: 100%; min-width: 100%;\">\n<div class=\"ory-cell-inner ory-cell-leaf\">\n<div>\n<p>On February 28, 2023, the Alberta Minister of Finance announced Alberta\u2019s 2023 budget. We\u2019ve highlighted the most important things you need to know about this budget.<\/p>\n<h2>No Changes To Corporate or Personal Tax Rates<\/h2>\n<p>Budget 2023 does not include any changes to the province\u2019s corporate tax rates or personal tax rates.<\/p>\n<h2>Tax Credits<\/h2>\n<p>The budget confirms that the government will introduce a new Agri-Processing Investment Tax Credit. This provides a 12% non-refundable tax credit on eligible capital investments of at least $10 million made on or after February 7, 2023, and unused credits can be carried forward for ten years.<\/p>\n<p>The maximum allowable expenses for the Adoption Expenses Tax Credit have been increased to $18,210.<\/p>\n<h2>Lowered Education Property Tax<\/h2>\n<p>The budget decreases the mill rates used to calculate the education property tax as follows:<\/p>\n<p>\u2022 Residential or farmland \u2014 $2.56 (down from $2.65) per $1,000 of equalized assessment<\/p>\n<p>\u2022 Non-residential \u2014 $3.76 (down from $3.90) per $1,000 of equalized assessment.<\/p>\n<h2>Investments In Education, Tourism and Infrastructure<\/h2>\n<p>Budget 2023 makes the following investments in education, tourism and infrastructure:<\/p>\n<ul>\n<li>Post-secondary education will be more affordable for students as Budget 2023 introduces reduced loan rates (to prime from the current prime plus one percent and extended repayment grace periods (now extended from six months to one year). Tuition increases will be capped at two percent as of Fall 2024.<\/li>\n<li>$10 million over two years is committed to promoting rural tourism.<\/li>\n<li>An $800 million investment will be made to both reduce greenhouse gas emissions and support green technology.<\/li>\n<li>Alberta&#8217;s road and bridge network, a crucial element of its expanding economy, will receive funding of $2.3 billion over a three-year period for vital projects and programs aimed at its enhancement and expansion.<\/li>\n<\/ul>\n<h2>We can help!<\/h2>\n<p>Need help determining the impact of this year\u2019s budget on your finances or business? Give us a call today!<\/p>\n<\/div>\n<p><em>The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as\u00a0tax\u00a0or legal advice. Please obtain independent professional advice in the context of your particular circumstances.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On February 28, 2023, the Alberta Minister of Finance announced the 2023 budget. We have highlighted the most important financial measures you need to know, with an emphasis on the following:<\/p>\n<p> \u2022\tTax credits.<br \/>\n \u2022\tDecreased education property tax.<br \/>\n \u2022\tInvesting in education, tourism and infrastructure.<\/p>\n","protected":false},"author":4,"featured_media":19317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","inline_featured_image":false,"footnotes":""},"categories":[110,130,116,118,119,120,106,108],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alberta 2023 Budget Highlights - StollerWealth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stollerwealth.com\/2023\/03\/alberta-2023-budget-highlights\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alberta 2023 Budget Highlights - StollerWealth\" \/>\n<meta property=\"og:description\" content=\"On February 28, 2023, the Alberta Minister of Finance announced the 2023 budget. 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