The Fall sitting of the legislature will see the Alberta government introduce a tax credit for investments in small business.
Economic Development Minister Deron Bilous says the bill would include a 30% tax credit for investments made in Alberta small business between April 14th this year and the end of December 2019. The Notley government says the tax credit would support up to 4,400 new jobs over three years and contribute up to $500-million to the province’s GDP.
The tax credit was announced without specifics as part of the government’s jobs plan earlier this year.
Bilous says the government will also restore training programs for entrepreneurs, cut the small business tax and protect Alberta’s multibillion-dollar tax advantage relative to other province.
The Calgary Chamber of Commerce is welcoming the announcement. Justin Smith with the Chamber says until Thursday, the province had large pools of capital but no policy measure to encourage the flow of the money to Alberta small businesses.