Canada: Agri-processing tax credit introduced in 2023 budget (Alberta)
Alberta Bill 10 contains the framework for a new 12% non-refundable agri-processing investment tax credit
A framework for a new 12% non-refundable agri-processing investment tax credit
Alberta Bill 10 received first reading on 9 March 2023.
The bill contains several measures previously announced or confirmed in Alberta’s 2023 budget, including the framework for a new 12% non-refundable agri-processing investment tax credit. The tax credit is generally proposed to be available to qualifying corporations for eligible capital investments of at least $10 million* made on or after 7 February 2023. Read TaxNewsFlash
The province previously announced that it also intends to bring forward regulations with more information on eligible expenditures and how to apply.
Read a March 2023 report prepared by the KPMG member firm in Canada
*$=Canadian dollar
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