By rdnewsNOW staff

property tax, wcb deferrals

Kenney announces new economic relief for Albertans, employers

Mar 23, 2020 | 2:53 PM

Jason Kenney says more relief is on the way for Albertans and Alberta employers struggling to deal with the COVID-19 pandemic.

The government is freezing education property taxes at last year’s level, thereby immediately cancelling a decision approved as part of Budget 2020.

By reversing the 3.4 per cent population and inflation adjustment the government expects that Alberta households and businesses will save about $87 million in 2020-21 ($55 million for households and $32 million for employers).

“The government expects that Albertans and Alberta businesses will fully realize these savings and that municipal property tax levels will not be increased as a result of the lower provincial education property tax levels,” the province said in a release.

Effective immediately, the government will defer education property tax for businesses for six months.

excellence

Ponoka waste transfer station earns award

18h ago

Mentorship program

Red Deer Catholic 'Ment-To-Matter' program expands to Sylvan Lake

22h ago

Nov. 28

Workshop coming to Red Deer for cow-calf producers on data literacy

Nov 22, 2024

In the next six months, the province says $458 million in cash will remain with employers to help them pay employees and continue operations.

The government expects municipalities to set education property tax rates as they normally would, but defer collection. Deferred amounts will be repaid in future tax years.

Commercial landlords will be expected to pass on these savings to their tenants through reduced or deferred payments. The province says this will help employers continue to manage their debts, pay their employees and stay in business.

Businesses capable of paying their taxes in full are strongly encouraged to do so. This will assist the province in being able to support Albertans through this pandemic.

Also announced Monday, private sector employers will able to defer WCB premiums until early 2021. Employers who have already paid their WCB premium payment for 2020 are eligible for a rebate or credit. For small and medium businesses, the government will cover 50 per cent of the premium when it is due. Large employers will also receive a break by having their 2020 WCB premium payments deferred until 2021.

“Paying 50 per cent of small and medium private sector WCB premiums for 2020 will cost government approximately $350 million,” the province says.