Corporate income tax changes
Alberta corporate income tax balances and instalment payments coming due between March 18, 2020 and August 31, 2020 are deferred until August 31, 2020 to increase employers’ access to cash so they can pay employees, address debts and continue operations.
Due dates for filing corporate income tax returns due after March 18, 2020 and before June 1, 2020 have been extended to June 1, 2020.
Education property tax deferral
Education property tax rates will be frozen at last year’s level – reversing the 3.4% population and inflation increase added in Budget 2020.
Collection of non-residential education property tax for businesses will be deferred for 6 months, or both municipal and education property tax are deferred for a shorter time that is of equivalent benefit.
Municipalities are expected to set education property tax rates as they normally would, but defer collection.
Commercial landlords are encouraged to pass savings on to their tenants through reduced or deferred payments to help employers pay their employees and stay in business.
Businesses capable of paying their taxes in full are encouraged to do to so. This will assist the province in supporting Albertans through the pandemic.
Taxpayers should contact their municipality directly for information for details on their municipality’s approach to education property tax deferrals.