Alberta to introduce tax credit for investments in small businesses up until 2019

By Staff The Canadian Press

Posted September 29, 2016 7:14 pm EST

1 min read

This article is more than 7 years old and some information may not be up to date.

Emmanuel Guardado, who owns the QueChivo Salvadoran food truck, with his vehicle at a park in Calgary, Alta., Friday, Aug. 19, 2016. Guardado had always dreamed of starting his own food business, but it was only when he lost his job in the oil and gas industry that he decided to dive in. THE CANADIAN PRESS/Jeff McIntosh

CALGARY – The Alberta government plans to introduce a tax credit for investments in small businesses in the fall sitting of the legislature.

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Economic Development Minister Deron Bilous says there will be a 30 per cent tax credit for investments in Alberta small businesses made between April 14 of this year and Dec. 31, 2019.

The 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.

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The tax credit is part of the government’s jobs plan.

Bilous says the government is also restoring training programs for entrepreneurs, cutting the small business tax and protecting a multibillion-dollar tax advantage over other provinces.

Justin Smith with the Calgary Chamber of Commerce says the province has large pools of capital but until Thursday, policy measures were sorely needed to encourage the flow of this capital into the province’s small businesses.