2015 BUDGET
Some of the winners and losers in the Alberta budget released Thursday:
WINNER
Corporations and oil companies: No changes to the 10 per cent corporate income tax rate and no changes to oil royalties. The government said raising them could tip the province into recession.
WINNER
The working poor: Any family making less than $ 41,220 annually will be eligible for the Alberta Working Family Supplement, which provides a refundable tax credit of up to $ 2,750 depending on the number of children in the family.
LOSER
The wealthy: The province is ending its 10 per cent flat income tax system and phasing in two new tax brackets for anyone making more than $ 100,000 a year.
LOSER
The middle class: Thursday’s budget contains a health levy to be paid by individuals making more than $ 50,000. It is tied to income and capped at $ 1,000 annually. There are also a host of fee increases. In total, a single person making $ 60,000 a year can expect to pay $ 161 more annually. A two- income family making $ 120,000 a year with two children can expect to pay $ 288 more.
LOSER
Drivers: The gasoline tax is going up by four cents a litre starting Friday. Fees to register vehicles are going up by $ 9. Traffic fines are being increased by an average of 35 per cent.
LOSER
Smokers and drinkers: A bottle of wine will cost 16 cents more while 12 beers will cost an extra 90 cents. The tax on a carton of smokes is going up $ 5 to $ 45.
LOSER
Charities: The Charitable Donation Tax Credit is being reduced to 12.75 per cent from 21 per cent for donations of more than $ 200.