New tax credits connect Alberta business with investors
The New Year brings new opportunities to invest in Alberta businesses as intake opens for two new tax credits to create jobs and diversify the economy.
- The Capital Investment Tax Credit (CITC) will have three competitive application intake periods, with the first beginning Jan.16, 2017 and ending Feb. 15, 2017.
- The Alberta Investor Tax Credit (AITC) will be provided on a first-come, first-served basis. Intake for the AITC will begin Jan. 16, 2017, remaining open until the annual funding for the program is fully allocated.
Legislation creating the two credits passed unanimously late last year. The credits are expected to support at least 9,000 jobs and add $1.2 billion to Alberta’s GDP.
“We are listening to Alberta business leaders, and they told us these tax credits are the best way to encourage timely capital investments and help Alberta entrepreneurs access the capital they need to grow and create jobs. Working together, we will ensure Alberta continues to be the best place to do business.”
Deron Bilous, Minister of Economic Development and Trade
"Growing businesses and our economy will require both entrepreneurial spirit and the necessary capital. Alberta has the spirit in spades, and these tax credits are the right move by the Government of Alberta to help improve access to capital. The Alberta Investor Tax Credit will create more capital flowing to small businesses to help them develop new ideas and create new jobs. The Capital Investment Tax Credit will help business deploy capital in ways that will create new opportunities in our economy.”
Adam Legge, President and CEO of the Calgary Chamber