Premier Jason Kenney Announces Job Creation Tax Cut

Premier Jason Kenney Announces Bill 3: The Job Creation Tax Cut, will be introduced in the Legislature next week

If passed, Bill 3 will drop the business tax rate in Alberta from 12% to 11% on July 1, 2019.

Premier Jason Kenney announcing his Job Creation Tax Cut on Monday.
 
Bill 3 is to be introduced in the Legislature next week.  If passed, the business tax in Alberta will drop one point to 11% on July 1, 2019. Kenney says that'll be followed by a one-percent drop each year until January 1, 2022 when the business tax rate in Alberta will be 8%. At that point, Kenney says Alberta's business tax rate will be 45% lower than the next highest tax rate in Canada. He says it'll make Alberta a huge magnet for job creating investment that will get the economy back to work.
 
Kenney says the tax cut will also reverse the flow of new business investment from the United States to Alberta as the province has lost its competitiveness in recent years. He says once the province hits an 8% business tax rate in 2022, he says it will be lower than 44 out of 50 US states.
 
The Premier says the tax cut is expected to create at least 55,000 full-time private sector jobs.
 
Kenney also announcing on Monday that legislation to repeal the Carbon Tax will also be introduced next week when the Legislature resumes. He says Albertans can expect the levy to come to an end effective May 30th.

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