L-R: Terry O’Flynn, Rick More, Minister Travis Toews, Todd MacKay, Sandip Lalli and Janet Riopel (Gov't of Alberta)

By Canadian Press

hoping to attract investment

Alberta introduces bill to slash corporate income taxes by a third over three years

May 28, 2019 | 5:19 PM

EDMONTON – Alberta has put the legal wheels in motion to cut corporate income taxes by one third.

The changes are part of a bill introduced in the legislature by Finance Minister Travis Toews.

Bill 3, if passed, will see Alberta’s 12 per cent corporate rate cut by one percentage point on July 1, making it the lowest in Canada.

The rate would be reduced by the same amount on the first day of the following three years, leaving it at eight per cent on Jan. 1, 2022.

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The bill is part of Premier Jason Kenney’s campaign pledge to reinvigorate Alberta’s economy by cutting taxes and reducing regulations.

“We are telling job creators they can make their plans now to benefit from lower taxes,” Kenney said. “We are proud to be taking bold action to show the world Alberta is open for business and reverse the flow of investment and jobs south of the border.”

Kenney’s United Conservative government has already introduced bills to end the provincial carbon tax and reduce the minimum wage for those under 18.

(The Canadian Press)