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Tax Information in Wood Buffalo

Alberta has a very competitive tax system, with a low single-rate income tax, the highest basic and spousal exemptions in the country. Albertans pay a federal Goods and Services Tax (GST) of 5% on most purchases. There is no provincial sales tax in Alberta, except on gasoline, hotel accommodations and a few specific items like tobacco.

Income Tax

Residents of Alberta pay income tax to the Government of Alberta and to the Government of Canada. Residents of Wood Buffalo qualify for up to $3,000 in income tax deductions based on travel and living costs. To qualify for the Northern Resident Deduction you must live, on a permanent basis, in a prescribed northern or intermediate zone.

Property Tax

All residents of Alberta pay property taxes based on the value of their residential and commercial property. This tax is paid to municipalities for municipal services, and to the Government of Alberta for public education. The Municipality's Assessment & Taxation Department is responsible for assessing the value of homes and other buildings each year for tax purposes. Taxes can be paid on annually or monthly basis.

Corporate and Business Tax

Businesses and corporations also pay taxes to the federal and provincial governments, as well as property taxes to the Regional Municipality of Wood Buffalo.

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