Faits saillants du budget fédéral 2016-2017

FEDERAL BUDGET ANNOUNCEMENT - 2016

FEDERAL BUDGET HIGHLIGHTSAlberta Finance Minister Robin Campbell tabled a $248 million surplus budgetfor fiscal 2015-16 on March 26, 2015. While the budget has little direct impacton corporations, it does contain several tax measures which will significantlyimpact individuals, such as a distinctive new health care levy and considerablechanges to personal income tax.

HIGHLIGHTS:

Fuel Tax Premiums

Fuel tax increases will affect Albertans across the board, adding to the cost of

living and the cost of doing business in Alberta. Eligible users of marked fuel are

also subject to these new taxes as the existing exemptions under the Tax

Exempt Fuel User (TEFU) and the Alberta Farm Fuel Benefit (AFFB) are not

being increased to offset these new costs. Fuel increases include:

• A fuel tax increase of 4 cents per litre of gasoline and diesel

• A fuel tax increase of 2.9 cents per litre of propane

Personal Tax Rates

Income Tax Brackets

Alberta’s infamous flat income tax rate of 10% will be changing after

January 1, 2016 for personal income tax rates.

• The 2015 Budget introduces two new personal tax brackets: taxable

income over $100,000 and over $250,000.

• Those earning more than $250,000 a year will be taxed at 11%. For the

next two years, that tax rate will jump half a percentage point each

year. By 2018, high income earners will be paying 12%. In 2019, the

rate will fall back to 11.5%.

• Similarly, taxes will go up by 0.5% a year for people within the

$100,000 to $250,000 tax bracket, 10.5% in 2016, 11% in 2017 and

11.5% by 2018.

• Those making under $100,000 will still pay a 10% tax.

Alberta Family Tax Credits

Starting July 1, 2015, the Alberta Family Employment Tax Credit will increase to

$754 for one child, to a maximum of $1,987 for four or more children.

A new refundable tax credit aimed at supporting the working family in Alberta will

also be introduced on July 1, 2016. The new Alberta Working Family Supplement

(AWFS) will pay families with one child $1,100, plus an additional $550 per child to

a maximum of three additional children. This equates to a maximum annual

payment of $2,750 for a family with four children.

FEDERAL BUDGET ANNOUNCEMENT - 2016

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Regional Tax Contacts

Name Region Phone Number

James Kungel Vancouver Island 250.734.4303

Kevin Wong Vancouver 604.685.8408

Am Lidder Lower Mainland / Fraser Valley 778.571.3535

Brian Posthumus Okanagan 250.979.1736

Randy Bella Calgary 403.536.5536

Graham Heron Central Alberta 403.356.1255

Mark Bernard Edmonton 780.453.5388

Kim Drever Peace 780.832.4287

Deidre Jensen Southern Alberta 403.502.8467

Mike Unick Lethbridge 403.317.2770

Cindy Heinrichs Swift Current 306.770.3627

Dave Boyko North Sask 306.664.8301

Regan Exner South Sask 306.790.7907

Derek Innis Winnipeg 204.788.6093

Michael Poole Southern Manitoba 204.571.7641

Steve Blazino Northwest Ontario 807.623.2141

David Webb Southwest Ontario 519.772.7464

Don Carson GTA 416.263.6930

Rosario Suppa GTA-West 416.641.4948

Gavin Miranda Ottawa 613.691.4224

Sean Sprackett Montreal 514.228.7822

Service Line Leaders

Name Region Phone Number

John Durland International Tax 416.263.6921

Heather Weber Indirect Tax 250.979.2575

Ryan Mackiewich SR&ED Tax 604.307.3757

Senior Vice President, Tax

Name Region Phone Number

Loren Kroeker National Tax 250.734.4330

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