The Canadian Taxpayers Federation has outlined some changes to taxes in 2024. (Photo: Photopal604 | Dreamstime.com)

By David Opinko

Some taxes set to increase in Alberta in 2024: report

Dec 19, 2023 | 11:44 AM

LETHBRIDGE, AB – Albertans are set to see some tax changes in the new year.

The Canadian Taxpayers Federation (CTF) has released its report titled, “2024 New Year’s Tax Changes,” highlighting the provincial and federal levies that will change.

CTF Federal Director Franco Terrazzano said tax hikes will give Canadians a whole new kind of hangover in the new year.

“Canadians need help with the rising cost of living, but the feds will be reaching deeper into our pockets with major tax hikes in 2024,” said Terrazzano.

Some of the federal taxes that are set to go up include:

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• Carbon tax
  • From $65 per tonne to $80 per tonne on April 1, 2024
  • Estimated to cost families $12.32 more each time they will up a 70-litre minivan
• Alcohol tax
  • 4.7 per cent increase in the federal excise tax on beer, wine and spirits in 2024.
  • Estimated to cost Canadians $100 million in 2024-25
• Digital services tax
  • New tax on large tech companies like Amazon, Google, Facebook, Uber, and Airbnb. CTF predicts costs will be passed onto consumers
  • Estimated to cost Canadians $1.2 billion in 2024
• Payroll taxes
  • Increasing mandatory contributions to Canada Pension Plan and Employment Insurance
  • Estimated to cost workers up to $347 more in 2024

The Government of Alberta will also be implementing some tax changes next year.

Of particular concern to CTF Alberta Director Kris Sims is that the provincial fuel tax is being partially reintroduced after having been suspended for all of 2023.

“Premier Danielle Smith did the right thing one year ago when she fully suspended the Alberta fuel tax because people are struggling with affordability so it’s mindboggling that she would hike the fuel tax back up now,” said Sims. “With the Trudeau government hiking its federal carbon tax in a few weeks and with so many still people struggling to afford food and home heating, increasing the Alberta fuel tax is the wrong way for the Smith government to go.”

Some of the provincial taxes that are set to change include:

• Fuel tax
  • Part of the 13-cent-per-litre fuel tax will be reintroduced. The government said drivers will still have at least four cents per litre, depending on the price of West Texas Intermediate oil
  • Estimated to cost $10-$15 more each time you fill up your vehicle
• Personal income tax
  • The province has pledged to create a new lower-income tax bracket for the first $59,999 of income, going from 10 per cent to eight per cent
  • Estimated to save workers $760 annually

The full report can be read on the Canadian Taxpayers Federation’s website.

READ MORE: Alberta fuel tax to partially return in 2024

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