Provincial Tax Credit encouraging capital investment in Alberta
The Alberta government is accepting applications for the third intake of the Capital Investment Tax Credit (CITC).
The application period runs from Jan. 15 until March 16, 2018.
“Per capita private-sector investment in Alberta rose to more than twice the national average last year, during the first round of our CITC,” said Alberta’s Minister of Economic Development and Trade Deron Bilous.
“That’s why we are building on that momentum with a second round of credits for businesses upgrading or expanding their facilities across the province,” he said.
The goal of the program is to help Alberta companies embark on new construction and capital projects by returning to businesses up to 10 per cent of the cost of new machinery, equipment or buildings.
Claims for credit under the CITC can be made after the capital purchases are in use.
The CITC is part of the government’s plan to diversify the Alberta economy.
The CITC Credits from both the first and second round are predicted to support over 3,000 jobs, and encourage companies to invest more than $1.2 billion in the province to either upgrade current facilities or build new ones.
For more information on the Capital Investment Tax Credit go to https://www.alberta.ca/capital-investment-tax-credit.aspx.
By Jeremy Broadfield, Staff Writer
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