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Tax Break

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Tax Break

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At the beginning of the year, Alberta introduced a new measure allowing local municipalities to offer a reduced property tax rate for small business owners. It’s not a mandatory tax cut, but municipalities can offer as much as a 25 percent discount. The province has set the bar for “small business” at 50 or fewer employees, but participating towns and cities may opt for a lower threshold. As reported in The Globe and Mail, the Bonnyville municipal district is one location that’s already jumped on board, offering small business owners a 10 percent savings on their property tax.

 

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