Mandel promises increased business tax deductions under Alberta Party government

Alberta Party Leader Stephen Mandel says if he’s elected premier on April 16 he would support job creation in small- and medium-sized businesses by doubling the allowable tax deduction from $500,000 to $1 million.

All other aspects of the small business deduction would remain the same, Mandel said Tuesday in Calgary, including the existing two per cent small business tax rate.

The Alberta Party is also promising to lower the general corporate tax rate from 12 per cent to 10 per cent, which it says would restore Alberta’s place as the most competitive jurisdiction in Canada on corporate tax rates.

Mandel says the changes would have a short-term budget impact of $400 million, but in the long-term would generate an estimated $1.5 billion in additional annual revenue by 2023.