EDMONTON – Alberta has introduced legislation that would give municipalities more flexibility to offer business tax breaks.
The bill, introduced by Municipal Affairs Minister Kaycee Madu, would allow councils to offer multi-year tax exemptions, reductions or deferrals on non-residential properties.
Under current law, councils have little room to manoeuvre on tax forgiveness and can only provide tax relief in cases of hardship.
The new bill proposes letting municipal councils design their own tax programs to fit the businesses they are trying to attract.
The tax plans could last for up to 15 years.
Madu says the changes will give municipalities wide latitude to establish tax exemptions to attract investment.News from © Canadian Press Enterprises Inc. 2020