TOMapleLaughs Posted March 26, 2015 Share Posted March 26, 2015 Ouch, what happened to the neverending cash cow?https://ca.finance.yahoo.com/news/alberta-unveiling-budget-including-health-levy-10-financial-080010642.htmlEDMONTON - Albertans will pay more to get married, go camping, have a drink, go for a drive or do pretty much anything else as the province fights to get out from under the collapse in oil prices. The 2015-16 budget tabled Thursday increases taxes and fees virtually across the board and runs the largest deficit in Alberta's history at $5 billion. The government is retooling its tax take so that the wealthy will pay more. It's also bringing in a health-care levy, boosting the gasoline tax by four cents a litre and increasing sin taxes on cigarettes and booze. "This has been one of the hardest budgets to develop in many years and has required tough decisions," Finance Minister Robin Campbell told reporters before he introduced the 2015-16 budget in the legislature Thursday. "We're going to get off of oil." Premier Jim Prentice has billed the document as transformational and necessary to make up for billions in lost oil revenue and to insulate the province's day-to-day spending from roller-coaster swings in energy prices. The premier has also said he needs a mandate to implement the budget and is expected to call an election soon. The budget details $1.5 billion in hikes and new levies and outlines a new tax model. Albertans will no longer be charged a 10 per cent flat tax. Everyone will still pay that much on the first $100,000 of taxable income, but there will be two new tax brackets for anyone earning more than that. There will be a new refundable tax credit and improvements to existing rules to aid lower-income working families. Fuel taxes will go up four cents to a total of 13 cents a litre starting Friday, although Alberta still has the lowest fuel taxes in the country. Traffic fines will rise by an average of 35 per cent. Other increases will hit registration fees, court and land-title searches, marriage certificates and camping costs. Alcohol taxes are going up by 16 cents for a bottle of wine and 90 cents for a 12-pack of beers as of Friday. Tax on a carton of cigarettes escalates to $45 a carton from $40. There will be a new levy added to provincial income tax starting July 1 to help offset the cost of health care. It will be paid on an escalating basis starting with individuals earning $50,000 or more in taxable income, with a cap at $1,000 a year. The province says the average Alberta family with two children and two working parents making a combined $120,000 a year will pay an estimated $288 more in taxes this year and $480 in 2016. Corporate income taxes will remain at 10 per cent, the lowest in Canada. Campbell said it's important to keep those rates low to prevent further damage to Alberta's fragile economy. Alberta still does not have a provincial sales or payroll tax. There are also to be spending reductions in some government department budgets, while others will hold the line. There will be slight increases for education and social services. Government revenue is projected to be $43.4 billion and expenses are pegged at $48.4 billion. The deficit will be covered off mainly by the $6.5-billion contingency fund. Borrowing for infrastructure will increase Alberta's debt burden to almost $18 billion. Bitumen and conventional oil royalties Alberta's two main money-makers are pegged to bring in $2 billion. That's more than $5 billion less than had been projected before oil prices plunged from US$107 a barrel last summer to the current mid-$40s. The long-term plan is to have the budget back in the black by 2018, as long as there is a modest rally in oil prices over the next few years. After that, the government plans to use increasing percentages of oil revenues to replenish the contingency fund and reinvest in the long-term Heritage Savings Fund. Good to see they're not raising the corporate tax. Privatize the gains, make the losses public. Link to comment Share on other sites More sharing options...
thejazz97 Posted March 26, 2015 Share Posted March 26, 2015 Well that's gotta be awkward. Link to comment Share on other sites More sharing options...
nucklehead Posted March 26, 2015 Share Posted March 26, 2015 I'm so enjoying this... Link to comment Share on other sites More sharing options...
Warhippy Posted March 26, 2015 Share Posted March 26, 2015 I just want to point out. I called it. Tax increases on the people. NO corporate tax increase at all or general royalty increase even though 70% of the polled population all but demanded just that. They also could not deliver on any of the big public expenditures for essential infrastructure either. But most importantly they did not one mention they'd stop the advertising and general subsidy of oil and energy which costs almost a billion dollars per year provincially and tens of billions federally. Now, how important and valued do you feel as a citizen of this country? Link to comment Share on other sites More sharing options...
Dogbyte Posted March 26, 2015 Share Posted March 26, 2015 I just want to point out. I called it. Tax increases on the people. NO corporate tax increase at all or general royalty increase even though 70% of the polled population all but demanded just that. They also could not deliver on any of the big public expenditures for essential infrastructure either. But most importantly they did not one mention they'd stop the advertising and general subsidy of oil and energy which costs almost a billion dollars per year provincially and tens of billions federally. Now, how important and valued do you feel as a citizen of this country? The same as always. Not at all. And some people say we should vote for these jerk wads. Oh well. I can definitely say it is way easier to drive around in the afternoon these days. Definite drop off in traffic. Link to comment Share on other sites More sharing options...
Whale Tail Posted March 27, 2015 Share Posted March 27, 2015 $45 for a carton of cigerettes? Isn't it like $80+ here in BC? Link to comment Share on other sites More sharing options...
YEGCanuck Posted March 27, 2015 Share Posted March 27, 2015 The Conservatives four decade master plan to diversify the Alberta economy has just turned the page on year 44. Link to comment Share on other sites More sharing options...
hsedin33 Posted March 27, 2015 Share Posted March 27, 2015 So they are doing just as good as the Oilers this year then? Link to comment Share on other sites More sharing options...
Miss Korea Bob.Loblaw Posted March 27, 2015 Share Posted March 27, 2015 Zero political opposition = yolo politics Link to comment Share on other sites More sharing options...
Lillooet_Hillbilly Posted March 27, 2015 Share Posted March 27, 2015 $45 for a carton of cigerettes? Isn't it like $80+ here in BC? a carton of players is over $100 Link to comment Share on other sites More sharing options...
YEGCanuck Posted March 27, 2015 Share Posted March 27, 2015 The Oil have been a failure for 9 consecutive years. The Oilers are working towards the NHL record however they have a ways to go to match the Alberta conservative party. Link to comment Share on other sites More sharing options...
Violator Posted March 27, 2015 Share Posted March 27, 2015 Meh....still better than BC tax wise Link to comment Share on other sites More sharing options...
AbbyNucksFan Posted March 27, 2015 Share Posted March 27, 2015 $45 for a carton of cigerettes? Isn't it like $80+ here in BC? $45 is just the tax on the carton.. not the whole price Link to comment Share on other sites More sharing options...
Green Building Posted March 27, 2015 Share Posted March 27, 2015 Just announced: 2006 Prosperity Bonus recall Link to comment Share on other sites More sharing options...
Electro Rock Posted March 27, 2015 Share Posted March 27, 2015 Its hard to balance the budget in bad times when they have to send at least $10 billion a year in transfer payments to Ottawa, not to mention all the government contacts and economic programs it misses out on. Link to comment Share on other sites More sharing options...
Warhippy Posted March 27, 2015 Share Posted March 27, 2015 Its hard to balance the budget in bad times when they have to send at least $10 billion a year in transfer payments to Ottawa, not to mention all the government contacts and economic programs it misses out on. Wow...this hurts my head so much. Ok pay very close attention. No province in Canada writes a cheque that says "Transfer Payments" it is an agreement amongst ALL provinces and the feds in this country to ensure that everyone has enough to go around. For Alberta to stop sending transfer payments, Alberta would literally have to stop making money as the amount sent by all provinces is derived from the amount a province makes. I might also add, Harper increased what Ontario paid by 5% but decreased what Alberta paid by 20% in his first massive omnibus bill. As well, Alberta misses out on NO programs and in fact gets subsidization from the feds for oil and resource extraction totalling $34 BILLION last year alone. That amount is more than twice what New Brunswick nova Scotia PEI and Manitoba all received in transfer payments last year. So please, do brush up before regurgitating that endless nonsense about "transfer payments" and Alberta being richer without them. Alberta wouldn't be in this mess if they had a government with the balls to actually hold oil companies and corporations responsible. Instead the largest non conflict oil producing state or province in the western hemisphere pissed it all away for the 6th time since the 70's It has nothing to do with transfer payments and everything to do with shoddy management. Lougheed right now, a true conservative; is rolling over in his grave at this crap Link to comment Share on other sites More sharing options...
Ghostsof1915 Posted March 27, 2015 Share Posted March 27, 2015 I predict the same kind of crash that happened in the late 80's. Alberta like all provinces needs to diversify it's economy. I wish sustainability wasn't just talked about, but acted upon. BTW Hey Christy, you might want to look at what's happening there, before your LNG dream, becomes a nightmare. She also might want to talk to the folks in her government that are responsible for mining, and resources and have a look at the price of LNG, and notice it's been stagnant for the past decade. Link to comment Share on other sites More sharing options...
Warhippy Posted March 27, 2015 Share Posted March 27, 2015 I predict the same kind of crash that happened in the late 80's. Alberta like all provinces needs to diversify it's economy. I wish sustainability wasn't just talked about, but acted upon. BTW Hey Christy, you might want to look at what's happening there, before your LNG dream, becomes a nightmare. She also might want to talk to the folks in her government that are responsible for mining, and resources and have a look at the price of LNG, and notice it's been stagnant for the past decade. lol LNG lol There will be no Asian market. Gazprom with the help of China has already started doing seismic feasibility studies to run that line from Siberia to China and the port at Vladivostock has almost finished upgrading for transport in to Japan. North Eastern Australia's fields are online and already shipping multiple freighters in through Malaysia Added that the North eastern US shale beds have them the ability to pipe directly to Seattle and the east coast which all have existing infrastructure and holding facilities to ship oil and LNG to europe and asia and in the 10-15 years it is going to take BC to get even 1 single plant online and functioning properly...the glut will be immense, the prices so low that corps can opt to not develop and scoff at her tax demands. Clarks LNG promises were the lie that every analyst told her they'd be. We'll be lucky to see 10% of her promises come to fruition over 30 years. And Alberta should have known better. 6 times since the 70's and they keep doing the same nonsense. Link to comment Share on other sites More sharing options...
aGENT Posted March 27, 2015 Share Posted March 27, 2015 What a freaking gong show. People really need to quit voting for foreign owned oil companies running our governments... If Alberta's economy wasn't so intertwined with the rest of the country, this would almost be funny (and well deserved). Link to comment Share on other sites More sharing options...
babych Posted March 27, 2015 Share Posted March 27, 2015 I'm so enjoying this... I don't know what's worse - this comment or that fact that someone "plussed" it. Link to comment Share on other sites More sharing options...
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