By rdnewsNOW staff

economic diversification

Liberals would eliminate personal income taxes for most Albertans: Khan

Mar 28, 2019 | 6:23 PM

Alberta Liberal Leader David Khan says his party would eliminate personal income taxes for most Albertans and lower corporate taxes if they won the April 16 provincial election.

“Alberta Liberals will put more cash into the pockets of Albertans. We will help businesses create more jobs. We will provide more stable revenue to better plan our fiscal future and support our public services. We have a smart and effective solution,” Khan said Thursday.

Under Khan’s plan, Albertans will pay no tax on the first $57,250 of personal income. For couples, $114,500 will be tax-free. Almost two-thirds of Albertans will be exempt from personal income tax under the plan.

“We will cut personal taxes on the rest of Albertans’ income by 1 point across the board,” Khan added.

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The Liberals would lower corporate income taxes from 12% to 10%, which Khan says would stimulate significant GDP growth, creating jobs, increasing wages, and diversifying Alberta’s economy.

“Our bold plan will raise nearly a billion dollars a year in additional revenue from out-of-province visitors. It will boost economic growth because reducing personal and corporate taxes encourages hard work and investment.

“It’s time to get off the resource roller coaster. It’s time to be smart about taxation. Our plan will not raise the financial burden on Albertans,” he added.