A new think tank report shows the tax burden on Alberta businesses is one of the lowest among the provinces, but the Conference Board of Canada is joining calls by bond rating agencies for the province to add a sales tax.
The Conference Board says only Saskatchewan and New Brunswick have lower business taxes. It also says Alberta’s lack of a provincial sales tax keeps this province’s personal tax burden competitive with other provinces.
Despite the advantage of having no PST, the Conference Board stands by its long-held opinion that the Alberta government should rethink its fiscal model and diversify revenue sources away from volatile oil and gas royalties. The report says a sales tax would bring more stability to government revenues, and help the province break its current boom-bust budget cycle.
Midnight tonight is the deadline to get your 2015 tax return in without penalty.