Alb-CreditsCalculate the applicable Alberta credits, then enter the appropriate amounts and corresponding descriptions of the Alberta credits with the keyword Alb-Credits.
Alb-DeductCalculate the applicable Alberta deductions, then enter the appropriate amounts and corresponding descriptions of the Alberta deductions with the keyword Alb-Deduct.
Alb-TaxCrUse the keyword Alb-TaxCr to enter information relating to the Alberta investor tax credit (AITC), the Alberta capital investment tax credit (CITC), the Alberta qualifying environmental trust tax credit (QET), the Alberta Film and Television tax credit (FTTC) or the Alberta Agri-processing investment tax credit.The AITC offers a 30% tax credit for investments made in eligible Alberta businesses by corporations. The AITC is available for investments in "non-traditional" sectors of Alberta's economy. In particular, it is aimed at small Alberta businesses substantially engaged (at least 50% of the business activities) in eligible business activities such as tourism activities, research, development and commercialization of proprietary technologies, development of interactive digital media in Alberta and post-production, visual effects and digital animation. The CEDC tax credit offers a 30% tax credit for investments in shares in a Community economic development corporation (CEDC) that has registered with the program. The CEDC will then provide capital to Eligible Community Businesses that are undertaking initiatives to develop and grow their rural economy or address a social challenge in their community. The CITC provides a non-refundable tax credit valued at 10 per cent of a corporation's eligible capital expenditures, up to $5 million per year. The CITC encourages companies to make timely investments by returning a percentage of the company's capital costs on expenditures such as the purchase of machinery, equipment and buildings. The Alberta qualifying environmental trust (QET) tax credit can be claimed by a corporation that is a beneficiary of a QET. The corporation can claim a credit equal to the amount of Alberta tax paid by the QET on the corporation's share of the QET's income. The FTTC offers a refundable Alberta tax credit certificate on eligible Alberta production and labour costs to corporations that produce films, television series and other eligible screen-based productions in the province. Applicants may apply for either a 22% or 30% tax credit rate. The Agri-Processing Investment Tax Credit (APITC) provides a 12% non-refundable tax credit when corporations invest $10 million or more in a project to build or expand a value-added agri-processing facility in Alberta. Corporations have 10 years to claim the tax credit against their provincial income tax. The following options are applicable for the keyword Alb-TaxCr.
Use the keyword CurrYr-Credit.a to enter the total amounts shown on all investor tax credit certificates issued to the corporation during the year. If you are claiming the Alberta capital investment tax credit, enter the total amounts shown on all capital investment tax credit certificates issued to the corporation during the year. For the Agri-processing investment tax credit, enter the amounts shown on all Agri-processing investment tax credit certificates issued by the appropriate ministry.
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CurrYr-Credit.a