Alberta remains one of the lowest taxed juristictions in North America, as well as one of the few that charges no Provincial sales tax. There has been recent rumor that in order to combat the loss of resource revenue the Provincial Government would raise taxes to help offset this loss. Not going to happen. Alberta was one of the last places to feel any hint of the economic slow down and we will likely be the first to emerge from it again as an economic powerhouse.
The following is an excerpt from a recent CBC article regarding the possibility of increased taxes in Alberta. Read it and you will gain some insight as to why this area of the continent is still moving along and leaving the rest of the country and continent behind.
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Ending speculation about possible tax hikes, Alberta Premier Ed Stelmach announced Tuesday the province is not increasing personal or corporate taxes to deal with Alberta's growing financial woes.
"As long as I'm premier of this province, there will be no tax increases .… No tax increases, period," Stelmach forcefully told reporters after a cabinet meeting in Calgary.
"So don't talk about them 'cause there won't be a sales tax and there won't be any tax increases, period. We're going to look at not only our budgets but the effectiveness of the programs and look to see how we can grow the pie by removing some of the barriers to investment."
The premier said he wants to send a clear signal to investors and to all Albertans that it's not going to get more expensive to live in the province.
'So just to close: cold beer, hot day, during very difficult economic times.'—Alberta Premier Ed Stelmach
Stelmach also said he's immediately rolling back the liquor tax increases that were introduced in the spring budget. That move will reduce government revenues by $180 million a year — and add to this year's deficit that had already been projected to reach almost $5 billion.
Stelmach said he was never comfortable with the April jump in liquor prices when the government markup was boosted by $1.30 for a dozen beer, 75 cents for a bottle of wine and $2.89 for a 750 ml bottle of spirits.
"It was something that I had a hard time agreeing with; it's been bothering me all that time," he admitted.
"We have to … continue to work to reduce the cost of doing business in this province. That's the way you build Alberta's future, and I tell you that Albertans expect confidence and stability in these very, very difficult economic times, and that is my focus," he said. "So just to close: cold beer, hot day, during very difficult economic times."
There are no plans to rescind the tobacco tax increases that were also implemented in April.
Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog you might have missed or wish to recommend them to a friend.
WANTED: Single Women: - Single women are a hot mortgage market
Common Financial Problems - Avoid these financial mistakes
Get Your Credit Score UP - Invaluable insight into your credit score
Mortgage Guidelines Get Tighter - Harder and harder to borrow money
Is Your Mortgage Company Out of Business in 2009? - What to do when your bank goes broke
What is wrong with MLS - Is your info being abused?
Survivor - Real Estate Edition - Let's vote a few more off the island
Robert May is a Realtor, as well as the broker and owner of Rainbow Realty of Lethbridge Alberta . He is also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta. He has been in the Lethbridge real estate industry since 1993 and offers full MLS real estate services to Lethbridge and surrounding area, as well as Lethbridge mortgage financing, mortgage refinancing , preapprovals, and Lethbridge heloc financing to Lethbridge and Southern Alberta. He can be found online at this link: mortgage broker Lethbridge
Let me share my 15 years experience in the local Lethbridge real estate and financing market with you! It is the first step towards making a profitable real estate decision.
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