Premier Jason Kenney issued the following statement about the government’s job creation tax cuts legislation:
Lt.-Gov. Lois Mitchell signs bills into law during a royal assent ceremony at McDougall Centre in Calgary while Speaker of the House Nathan Cooper looks on.
“Alberta will officially have the lowest corporate tax rate in Canada on July 1. On June 28, the Job Creation Tax Cut (Alberta Corporate Tax Amendment) Act received royal assent and became law.
“This is just step one of our promised job creation tax cuts. Alberta’s corporate tax rate will be at 11 per cent on Canada Day. On Jan. 1, 2020, the rate will be 10 per cent, and by the time it reaches eight per cent in 2022, Alberta’s combined federal-provincial business tax rate will be lower than 44 U.S. states and the lowest in Canada by far.
“These tax cuts are a vital part of our plan to reignite the economy, support job creators and get Albertans working again. I am very proud to say that our government has also moved quickly to repeal the job-killing carbon tax, implement common-sense labour changes, reduce needless red tape and say to the world, ‘Alberta is once again open for business.’
“We are hearing from companies around the world that are looking at Alberta as a prime location for investment, relocation and expansion.
“This is an exciting time to be an Albertan, and I am looking forward to seeing our province resume its place as the economic engine of this wonderful country.”