Taxes
Did you know? Alberta has the lowest, and most simple, provincial tax rates – for business and individuals – in Canada.
According to the Canadian Federation of Independent Business, Alberta has the most simple tax regime with a single tax rate for all Albertans, corporations and small business; no sales or payroll taxes or capital tax; and minimal taxes on fuel.
In 2011, the City of Lethbridge will collect $120.9 million in taxes from residents and businesses and only 35 per cent will come from industrial and commercial operations. The general tax rate in 2011 for Lethbridge business is 17.352 Mills.
In the County of Lethbridge, the 2011 General Mill rate for machinery and equipment is 8.8884 Mills. The County of Lethbridge generated $27.1 million in revenue during 2010, of which $11.4 million came from taxes. The current assessed value of commercial and industrial sites in the County is in excess of $1.6 Billion.
| Corporate Tax Summary |
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| Major Provincial Tax Rates, 2011 |
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| Major Provincial Tax Rates, 2011 |
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AB |
BC |
SK |
MB |
ON |
QC |
NB |
NS |
PE |
NL |
| Statutory Rate Range: |
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| - Lowest Rate (%) |
10.00 |
5.06 |
11.00 |
10.80 |
5.05 |
16.00 a |
9.10 |
8.79 |
9.80 |
7.70 |
| - Highest Rate (%) |
10.00 |
14.70 |
15.00 |
17.40 |
11.16 |
24.00 a |
12.70 |
21.00 |
16.70 |
13.30 |
| Surtax (%) |
- |
- |
- |
- |
20/36 |
- |
- |
- |
10 |
- |
Combined Fed./Prov.
Top Marginal Rate (%) b |
39.00 |
43.70 |
44.00 |
46.40 |
46.41 |
48.22 |
41.70 |
50.00 |
47.37 |
42.30 |
| Personal Amount ($) |
16,977 |
11,088 |
13,535 |
8,134 |
9,104 |
10,640 |
8,953 |
8,231 |
7,708 |
7,989 |
| Spousal Amount ($) |
16,977 |
9,730 |
13,535 |
8,134 |
7,730 |
10,640 |
7,602 |
6,989 |
6,546 |
6,528 |
| General Rate (%) |
10.0 |
10.0 |
12.0 |
12.0 |
11.5 c |
11.9 |
10.0 d |
16.0 |
16.0 |
14.0 |
| Mrf & Processing Rate (%) |
10.0 |
10.0 |
10.0 |
12.0 |
10.0 |
11.9 |
10.0 |
16.0 |
16.0 |
5.0 |
| Small Business: |
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| - Rate (%) |
3.0 |
2.5 |
4.5 |
0.0 |
4.5 |
8.0 |
5.0 |
4.5 |
1.0 |
4.0 |
| - Threshold ($000) |
500 |
500 |
500 |
400 |
500 |
500 |
500 |
400 |
500 |
500 |
| General (max.%) |
- |
- |
- |
- |
- |
- |
- |
0.05 e |
- |
- |
| Financial Institutions (max.%) |
- |
- |
3.25 |
3.00 |
- |
0.25 f |
3.00 |
4.00 |
5.00 |
4.00 |
| (%) |
- |
7.0 |
5.0 |
7.0 |
8.0 |
8.5 g |
8.0 |
10.0 |
10.0 g |
8.0 |
| (¢/litre) |
9.0 |
20.1 h,i |
15.0 |
11.5 |
14.7 i |
17.2 h,i |
10.7 i |
15.5 i |
15.8 j |
16.5 i |
| ($/carton) |
40.00 |
37.00 i |
42.00 i |
41.00 i |
24.70 i |
20.21 |
23.50 i |
43.04 i |
44.90 |
38.00 i |
| (max.%) |
- |
- |
- |
2.15 |
1.95 |
4.26 k |
- |
- |
- |
2.00 |
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Note: Rates for provinces other than Alberta known as of February 10, 2011 |
| a |
Quebec residents receive an abatement of 16.5% of basic federal tax because of the province's decision to opt out of federal cash transfers in support of provincial programs.
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| b |
The top federal personal income tax rate is 29%, except in Quebec where the top federal rate is 24.22% because of the federal abatement.
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| c |
Ontario's corporate income tax rate will be reduced from 12% to 11.5% on July 1, 2011.
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| d |
New Brunswick's corporate income tax rate will be reduced from 11% to 10% on July 1, 2011.
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| e |
Nova Scotia will reduce its Large Corporations Tax from 0.10% to 0.05% on July 1, 2011.
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| f |
Quebec levies a 0.25% compensation tax on the paid capital of financial institutions. |
| g |
These provinces apply their sales tax on the retail price of the goods and services inclusive of the GST. |
| h |
An additional 9 ¢/litre is imposed in the greater Vancouver area, 3.5 ¢/litre in Victoria and 3 ¢/litre in Montreal. The British Columbia rate includes the carbon tax on gasoline, which is 4.45 ¢/litre until June 30, 2011, after which it will rise to 5.56 ¢/litre. Quebec will increase its fuel tax from 16.2 ¢/litre to 17.2 ¢/litre on April 1, 2011. |
| i |
These provinces apply their retail sales tax or the provincial portion of their harmonized sales tax on the retail price of the good inclusive of the particular excise tax. In British Columbia, gasoline is subject to the Harmonized Sales Tax (HST), but receives an immediate point of sale rebate for the provincial portion of the tax. |
| j |
This rate is based on a 7.1¢/litre base rate and 10.7% of the average wholesale price. The rate is calculated on a monthly basis with the total tax rate is capped at 15.8¢/litre. |
| k |
Quebec also levies a compensation tax of up to 3.9% on salaries and wages paid by financial institutions that is not included in this rate. |
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Source:
Source: Alberta Finance and Enterprise, Tax Plan, Budget 2011
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| Overall Index Scores, Provincial Tax Systems |
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| City of Lethbridge Tax Rate (Mills) |
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| City of Lethbridge Tax Levy |
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| Municipal Revenue Sources County of Lethbridge |
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| County of Lethbridge Assessed Value by Category |
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| County of Lethbridge Tax Rates (Mills) |
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