Budget 2014
Tax Plan
FP_2014_TP_01_tb_itahcipc.pdf
Interprovincial Tax Comparisons, 2015
(dollars)
AB
BC
SK
MB
ON
QC
NB
NS
PE
NL
(3,796)
930
100
885
576
951
1,760
408
1,760
1,981
465
2,135
1,594
393
1,093
1,605
164
495
Employment Income of $35,000 – One Income Family with Two Children
Provincial income tax
Provincial sales tax
Health levy/premium
Payroll tax
Fuel tax
(1,422)
390
798
437
921
635
Total
(1,032)
Alberta Advantage
2015
2018 - Full Implementation
(874)
804
450
351
1,287
307
420
(1,347)
352
326
364
441
2,791
380
2,365
136
(1,305)
3,119
4,206
4,122
3,357
3,823
4,492
1,412
2,081
3,397
4,066
1,168
1,837
(273)
396
4,151
4,820
5,238
5,907
5,154
5,823
4,389
5,058
Employment Income of $75,000 – One Income Family with Two Children
Provincial income tax
Provincial sales tax
Health levy/premium
Payroll tax
Fuel tax
2,944
122
390
3,318
972
1,800
635
2,856
1,048
450
5,139
1,681
657
420
3,675
2,026
600
780
441
3,596
2,765
200
1,896
576
6,330
2,303
408
6,984
2,610
465
6,898
2,352
393
5,639
2,125
351
495
Total
3,456
6,725
4,354
7,897
7,522
9,033
9,041
10,059
9,643
8,610
3,269
3,382
898
1,011
4,441
4,554
4,066
4,179
5,577
5,690
5,585
5,698
6,603
6,716
6,187
6,300
5,154
5,267
Alberta Advantage
2015
2018 - Full Implementation
Employment Income of $100,000 – Two Income Family with Two Children
Provincial income tax
Provincial sales tax
Health levy/premium
Payroll tax
Fuel tax
4,904
100
585
3,745
1,206
1,800
953
4,555
1,262
675
6,839
2,044
877
630
3,856
2,503
986
1,040
662
6,679
3,080
200
2,528
864
7,130
2,848
612
7,883
3,230
698
7,964
2,904
590
6,259
2,627
468
743
Total
5,589
7,704
6,492
10,390
9,047
13,351
10,590
11,811
11,458
10,097
2,115
2,015
903
803
4,801
4,701
3,458
3,358
7,762
7,662
5,001
4,901
6,222
6,122
5,869
5,769
4,508
4,408
Alberta Advantage
2015
2018 - Full Implementation
Employment Income of $200,000 – Two Income Family with Two Children
Provincial income tax
Provincial sales tax
Health levy/premium
Payroll tax
Fuel tax
Total
13,319
11,378
15,380
19,851
13,734
21,801
19,940
21,614
21,098
17,110
472
585
2,190
1,800
953
2,143
675
3,447
1,753
630
4,326
1,350
2,080
662
5,628
200
5,056
864
4,813
612
5,446
698
4,916
590
4,474
935
743
14,376
16,321
18,198
25,681
22,152
33,549
25,365
27,758
26,604
23,262
1,945
1,470
3,822
3,347
11,305
10,830
7,776
7,301
19,173
18,698
10,989
10,514
13,382
12,907
12,228
11,753
8,886
8,411
Alberta Advantage
2015
2018 - Full Implementation
Calculations are based on other provinces’ tax parameters known as of March 10, 2015.
Assumptions:
• Two Alberta Advantage figures are provided this year, the first incorporating all Alberta tax changes taking effect in 2015 and the second
incorporating all Alberta tax changes announced in Budget 2015.
• The Alberta Advantage figures on a full implementation basis for 2018 incorporate all tax changes announced in Budget 2015 and do not
account for future changes to provincial tax systems as a result of indexing. • Health levies/premiums are assumed to be borne by individuals. Payroll taxes are assumed to be borne 75% by employees and 25% by
employers.
•
Fuel tax is based on estimated consumption of 3,000 litres
per year
for one income families and 4,500 litres for two income families.
M:\EFP\TP\TAX-BUDGET\TAX-BUDGET-2015-16\Tables\Four
Family
Model\
Printed
to PDF:
on 3/19/2015
| 1:35
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• RRSP/RPP
contributions
$0, $6,000, $10,000 and $25,000 are included in the calculation of
personal
income
tax for the
$35,000,
Four
Family Table
- FOR TAX of
CHAPTER
$75,000, $100,000 and $200,000 families, respectively.
• For two income families, income and RRSP/RPP contributions are split 60/40 between the two spouses.
• The children in each family are assumed to be 6 and 12 years old.
100
TAX PLAN • FISCAL PLAN 2015–20