Note: as of November 24, 2004, Finance and Revenue were merged into a single Finance ministry (news release). This is an archive of the What's New items on this website for 2003 and includes both Finance and Revenue items.

December 2003

Auto insurance reform on track for implementation in 2004
December 30, 2003

The Alberta government is on track to bring in substantial changes to the province's auto insurance system in 2004, including fair and competitive rates for all safe drivers, and fair compensation for those injured in accidents. Click here for the complete information.

Increased personal exemption amounts keep more money in Albertans' pockets
December 30, 2003

Albertans will save about $150 million in 2004 as the government increases personal tax credits. Alberta's basic personal amount, spousal amount, and eligible dependent amount will all rise to $14,337 for 2004, up from $13,525 in 2003. The six per cent increase in the basic amounts reflects Alberta's move to index personal tax credits for inflation. Click here for the complete information.

Alberta Population Report - 2nd Quarter, 2003
December 18, 2003

The Alberta Population Report for the 3rd Quarter of 2003 (pdf) has been added to the Demographics & Other Facts page.

Alberta Response to Federal Resource Tax Changes (Alberta Corporate Tax Act Special Notice Vol. 5 No. 18)
December 22, 2003

This Special Notice outlines the Alberta Government's response to federal resource tax changes that were effective January 1, 2003 and received Royal Assent on November 7, 2003. Amendments to the Alberta Corporate Tax Act will be brought forward in the 2004 spring session of the Alberta Legislature to implement the corporate resource taxation regime and the individual tax refund program as described in the Special Notice. All Alberta changes will be effective January 1, 2003, the same effective date as the federal changes. Click here for the Special Notice.

Bill 41 - Alberta Corporate Tax Amendment Act, 2003 - Major Changes (Alberta Corporate Tax Act Special Notice Vol. 5 No. 16)
December 18, 2003

Bill 41, the Alberta Corporate Tax Amendment Act, 2003, received Royal Assent on December 4, 2003. Click here for information on the major changes included in Bill 41.

Bill 41 - Alberta Corporate Tax Amendment Act, 2003 - Clarification of Royalty Tax Deduction Rules (Alberta Corporate Tax Act Special Notice Vol. 5 No. 17)
December 18, 2003

Bill 41, the Alberta Corporate Tax Amendment Act, 2003, received Royal Assent on December 4, 2003. While there has been no change in policy with respect to the Royalty Tax Deduction ("RTD"), Bill 41 includes a rewrite of the rules for calculating the RTD. Click here for more information.

Temporary freeze on auto insurance rates in Alberta is now law - December 17, 2003

Edmonton… The final step in freezing automobile insurance rates at October 30 levels has been taken. The Order in Council freezing rates for up to 18-months until the new reforms are put in place is now fully in effect after receiving Cabinet’s approval. Go to:

• Complete news release
• Auto Insurance web site
• Alberta Insurance Act - Fair Practices Regulation
• Alberta Insurance Act - Order re Premiums Freeze

Prescribed Interest Rates for First Quarter of 2004
December 16, 2003

The prescribed interest rates for the first quarter of 2004 will be 3% for credit interest and 6.5% for debit interest. The debit interest rate for the International Fuel Tax Agreement (IFTA) program for the first quarter of 2004 will be 5%. Click here for the Prescribed Interest Rates table.

Software Certified for AT1 Returns (AT1 RSI)
December 16, 2003

Revisions have been made to the list of software certified by Alberta Revenue, Tax and Revenue Administration for the AT1 forms for 1998 and subsequent years. Click here to view the list.

Consumers and call 310-4455 for auto insurance questions, complaints
December 10, 2003

Edmonton… Consumers with questions or concerns over auto insurance premiums can call the provincial government toll-free at 310-4455. Operators will respond to general questions and can direct callers who have more detailed questions. Consumers looking for general information about the freeze and auto insurance changes can also visit the province’s web site at www.autoinsurance.gov.ab.ca. The 310-4455 Alberta Connects number is equipped to receive a large volume of calls from the public, and consumers will receive quicker service if they call this number. Click here for the complete information bulletin.

Mad Cow Disease - Waiver of Interest (Alberta Corporate Tax Act Special Notice Vol. 5 No. 15)
December 1, 2003

The discovery of Bovine Spongiform Encephalopathy (BSE or Mad Cow Disease) in a single cow created a market disaster for corporations whose operations are primarily related to cattle industry, including farmers, livestock haulers, etc. In recognition of this disaster, Tax and Revenue Administration's waiver policy under section 55.1 of the Alberta Corporate Tax Act has been temporarily broadened. Canadian corporations adversely affected by the outbreak of BSE may apply to Alberta Revenue, Tax and Revenue Administration (TRA) for a waiver of interest under the circumstances described in Special Notice Vol. 5 No. 15.

Internet Payments of Corporate and Commodity Taxes
Available December 1, 2003

Previously, payment of Alberta provincial corporate and commodity taxes could be made by mail, hand delivered to Tax and Revenue Administration's (TRA) offices in Edmonton or Calgary, paid over the counter at major financial institutions, or wire transferred through most banks. Effective December 1, 2003, a new internet payment service is available. Internet payments can be made for the following:  Corporate Income Tax, Insurance Corporations Tax, International Fuel Tax Agreement, Fuel Taxes, Propane Tax, Health Cost Recovery Levy, Hotel Room Tax, and Tobacco Tax.  Click here for more information. 

November 2003

Discussion Papers on Pensions and Locking-in Released - November 28, 2003

Strengthening Risk Management, Disclosure and Accountability

There has been renewed attention within the pension industry to improve how the plans are managed, and particularly on how financial problems with the plans can be better identified and addressed. As a result this discussion paper proposes changes to the Employment Pension Plans Act that would reinforce the ability of Superintendent of Pensions to protect plan members’ interests by providing greater accountability and transparency to plan members.

Another recommended change proposes measures to provide greater flexibility and reduce the administrative complexities around the division of pension benefits on marriage breakdown. A technical discussion paper is available for people who want more details on these proposals.

A deadline for feedback is January 31, 2004. Based on the feedback received, input may be used to shape any changes to the Employment Pension Plans Act next spring.

• Strengthening Risk Management, Disclosure and Accountability Discussion Paper
• Pension Division on Marriage Breakdown Technical Discussion Paper

Access to Locked-in Accounts

In May 2003, the Government of Alberta made an amendment to the Employment Pension Plans Regulation that allowed for Albertans facing financial hardship, for a variety of reasons, to apply to access their locked-in pension funds. At that time it was clearly stated that this was an interim and immediate measure and that further discussion would be planned in the coming months before any further changes are made to the locking-in provision.

If an employee leaves a job and wants to take his or her pension benefits out of the pension plan, the money must, by law, be transferred to a locked-in account, which is not accessible until the former plan member reaches age 50, and then must be used to purchase a lifetime pension. Many Albertans believe this law should be changed. Several options have been put forward that range from minor amendments to major reforms.

A deadline for feedback is January 31, 2004. Based on the feedback received, input may be used to shape any changes to the locking-in rules in the spring session of the Alberta Legislature.

• Access to Locked-in Accounts Discussion Paper
• Background: Province unlocks pension funds for those facing financial hardship (May 14, 2003 News Release)

Debt paid down, Capital Account boosted with Sustainability Fund Surplus - Education support included in Second Quarter Update
November 26, 2003

Edmonton… Additional money in the Sustainability Fund will be used to pay down Alberta’s debt and boost the Capital Account if revenues stay strong through to March 31, 2004. Finance Minister Patricia Nelson made the announcement in releasing the Second Quarter fiscal update for 2003-04. Click on the links below for:

• complete news release and backgrounder "How the Sustainability Fund Works"
• 2003-04 Second Quarter Fiscal Update
• 2003-04 Second Quarter Activity Report

Heritage Fund benefits from continued market improvements
November 26, 2003

Edmonton…  The Alberta Heritage Savings Trust Fund earned $187 million in investment income in the second quarter of this fiscal year. As of September 30, the fair value of the Heritage Fund stood at $11.9 billion up from $11.1 billion at March 31, 2003. Over the past six months, the fair value of the Fund has increased by $1.2 billion, almost entirely reversing last year's decline of $1.3 billion. The increase in fair value includes transfers to the General Revenue Fund of $386 million, resulting in a net increase of $836 million. Click on the links below for:

• complete news release
• Heritage Fund 2003-04 Second Quarter Update.

Provincial Debt section updated
November 26, 2003

The Provincial Debt section of this website has been updated with the release of the 2003-04 Second Quarter Fiscal Update.

Alberta Legislation introduced to provide Albertans with fair and affordable auto insurance
November 24, 2003

Edmonton… A new rate structure that rewards safe drivers and ensures fair compensation for Albertans who are injured as a result of an automobile accident are among the highlights of legislation introduced today in the Alberta Legislature on automobile insurance. Bill 53, the Insurance Amendment Act 2003, will lay the foundation for sweeping changes to Alberta’s auto insurance system. Click on the links below for:

• complete news release
• www.autoinsurance.gov.ab.ca

Interest rate set for Alberta Savings Certificates
November 21, 2003

Edmonton... The Alberta Savings Certificate rate has been set for the interest period December 1, 2003 to May 31, 2004. Click here for the information bulletin.

Alberta consumers to benefit from sweeping auto insurance reforms introduced by Alberta government
November 19, 2003

Edmonton… Young drivers with good driving records, senior citizens, and other Albertans paying unfair insurance rates will benefit from a comprehensive package of auto insurance reforms to be introduced in the Alberta Legislature by the Government of Alberta. Click on the links below for:

• complete news release
• Backgrounder: Grid standardizes discounts and surcharges based on driver experience
• Backgrounder: Proposed Auto Insurance Reform Framework
• www.autoinsurance.gov.ab.ca

Learn more about your $12 billion Heritage Fund
November 19, 2003

Click here for an information brochure (pdf) on the Alberta Heritage Savings Trust Fund.

Economic Spotlight
November 5, 2003

An Economic Spotlight document is available on the topic "Alberta Housing Starts", on the Economic Information page.

October 2003

Albertans invited to learn more about their Heritage Fund
October 30, 2003

Grande Prairie ... Albertans are invited to attend an open house to find out more about their Alberta Heritage Savings Trust Fund (AHSTF).  The open house will be held on Wednesday, November 5th, 2003 at the Grande Prairie Regional College Theatre from 7:00 p.m. to 9:00 p.m.  AHSTF Standing Committee member Mel Knight, MLA for Grande Prairie-Smoky, will host the annual open house and invites everyone who is interested in learning more about the Heritage Fund to attend. Drew Hutton, MLA for Edmonton-Glenora and Committee Chair and Members of the Committee will join Mr. Knight at the meeting and will be available to the media.  Click here for the complete news release.

Web site outlines proposed changes to auto insurance in Alberta
October 24, 2003

Edmonton… Albertans can see for themselves how proposed new automobile insurance regulations put consumers first and emphasize personal responsibility. By visiting www.autoinsurance.gov.ab.ca, drivers will see what recommendations the Automobile Insurance Implementation Team is proposing. These proposed changes ensure there is a place for private insurance companies and those who advocate on behalf of accident victims. Click here to read the complete information bulletin, or go to www.autoinsurance.gov.ab.ca.

Alberta's single rate personal income tax section and tax calculator updated
October 23, 2003

Alberta's single rate personal income tax section of this website has been updated. This section includes links to commonly used tax forms and an updated Tax Calculator, which you may use to estimate your taxes for 2003.

Economic Spotlight
October 23, 2003

An Economic Spotlight document is available on the topic "Trends in Alberta CPI Inflation", on the Economic Information page.

Revenue Minister to meet with State Officials and Business Leaders in Utah
October 23, 2003

Edmonton… Revenue Minister Greg Melchin will discuss tax and revenue matters with senior officials from the Government of Utah, as well as meeting with leading members of the Utah business community and the Canadian Ambassador to the United States.  "These meetings are an opportunity to strengthen our relations with business and government leaders in Utah," said Melchin. "It is important to gain insight and knowledge of revenue and taxation models that are used by similar jurisdictions, as well as to promote opportunities in Alberta abroad."  Click here for the complete news release.

Goods and Services Tax-Free Alberta Government Entities List
October 21, 2003

The list of Alberta Government entities and departments that are not required to pay Goods and Services Tax (GST) on purchases of taxable supplies and services has been updated. These entities are part of the Alberta Government for GST purposes and are therefore immune from payment of GST as per section 125 of the Constitution Act of Canada. These entities are also not required to pay the Harmonized Sales Tax (HST) on their purchases in HST participating provinces. Click here to view the updated list.

Government policy committee seeks further information on proposed changes to auto insurance; refers issue to full government caucus
October 15, 2003 - updated 6:00 p.m.

Edmonton... Further information about new automobile insurance policy proposals has been requested by the Standing Policy Committee on Economic Development and Finance. Click here for the complete news release.

September 2003

Annual reports show how government addresses priorities
September 30, 2003

Albertans can see firsthand how priorities are addressed and tax dollars are spent through the 2002-03 Ministry Annual Reports released today by the provincial government. Click here for the complete news release; and all Ministry Annual Reports.

Alberta Finance - laying the foundation for a new fiscal framework
September 30, 2003

The development of a new fiscal framework to protect core programs from volatile resource revenue and provide more certainty to infrastructure planning is among the highlights of Alberta Finance's 2002-03 Annual Report. Click on the links below for:

• complete news release
• Alberta Finance Annual Report 2002-03 (html); or
• PDF version index.

Alberta Revenue Reports on its Second Year
September 30, 2003

Edmonton… Alberta Revenue addressed a number of challenges in the investment markets, including managing investments in a bear market and assuming a leadership role in reforming securities regulation across the country, according to Alberta Revenue's 2002-03 Annual Report.  "This past year has been one of both challenges and successes, as we managed over $35 billion of assets through the worst bear market since the 1930s," said Revenue Minister Greg Melchin, "And Alberta Revenue led the other provinces and territories in work to improve securities regulation."

• Complete news release
• Go to Alberta Revenue Annual Report 2002-03

Propane Retailers (PRO) Information Circulars
September 30, 2003

The Propane Retailers (PRO) series of information circulars is primarily intended to be used by propane retailers. This series of information circulars has been reviewed and updated where necessary. As a result, revisions were made to:

• PRO-2R1, Tax Refunds to Propane Retailers for Tax-Out Sales - paragraphs 2 to 6 were updated to reflect current practices; and
• PRO-4R2, Administration - minor changes were made.

Guide for Applicants - Alberta Royalty Credit (For Individuals, Trusts and Estates)
September 30, 2003

This guide contains information about the Alberta Royalty Credit and the forms which individuals, trusts and estates file when claiming the Credit. The Guide has been updated to reflect current practices. Click here to view the html version or pdf version of the guide.

Alberta Royalty Tax Credit (RTC) Rate for Fourth Quarter of 2003
September 26, 2003

For the fourth quarter of 2003, commencing October 1, 2003, the RTC rate will be 25.00%. Click here for the updated Royalty Tax Credit rates.

Alberta Population Report - 2nd Quarter, 2003
September 25, 2003

The Alberta Population Report for the 2nd Quarter of 2003 (pdf) has been added to the Demographic Information page.

Prescribed Interest Rates for Fourth Quarter of 2003
September 18, 2003

The prescribed interest rates for the fourth quarter of 2003 will be 3% for credit interest and 6.5% for debit interest. Click here for the Prescribed Interest Rates table.

New Tax and Revenue Administration Forms
September 15, 2003

The following forms have been added to this website:

• Alberta Tobacco Tax Act form AT208 - Non Alberta Marked Tobacco Importation Return. This form is to be completed by importing consumers (persons resident in Alberta or their agents carrying on business in Alberta) who bring tobacco into Alberta from another province or territory. The completed form is to be submitted to Alberta Revenue, Tax and Revenue Administration on or before the 10th day after the day the tobacco was acquired or received in Alberta. See Tobacco Tax Act Special Notice Vol. 3 No. 6 for further information.
• Alberta Tobacco Tax Act form AT216 - Alberta Duty Free Shop Registration. This form is to be completed by duty free shops in Alberta for registration under section 12.2 of the Tobacco Tax Regulation to make tax-exempt sales in Alberta. 

Economic Spotlight
September 10, 2003

An Economic Spotlight document is available on the topic "Recent Trends in Retail Sales", on the Economic Information page.

August 2003

Changes will limit quantities of tax-exempt tobacco products
August 29, 2003

Effective September 1, allowable limits of tax-exempt tobacco products imported into Alberta from other provinces as well as outside Canada, will decrease significantly.  The new limits are: 200 cigarettes, 200 tobacco sticks, 50 cigars or 50 cigarillos, and 200 grams of manufactured tobacco, and can only be brought into Alberta following a 48-hour absence. For more details, click here.

Alberta Tobacco Tax on Importation of Tobacco into Alberta
August 29, 2003

Bill 35 - Tobacco Tax Amendment Act, 2003, received Royal Assent on May 16, 2003. The bill legislates that, upon proclamation and subject to certain conditions, Alberta tobacco tax will be charged when “importing consumers” (persons resident in Alberta or their agents carrying on business in Alberta) import or send tobacco into Alberta, or acquire or receive delivery of tobacco in Alberta, for the persons’ consumption, or on behalf of other persons at those persons’ expense for their personal consumption. The Alberta tobacco tax on importation was proclaimed to be in force on September 1, 2003.  Click on the links below to view:

• Special Notice Vol. 3 No. 6 - Tobacco Tax Act - Alberta Tobacco Tax on Importation of Tobacco into Alberta
• Notice Concerning Collection of Alberta Tobacco Taxes

Sustainability Fund is on track to be fully funded in its first year
August 27, 2003

Edmonton… The Alberta government’s first quarter fiscal update for 2003-04 forecasts a strong outcome for the Alberta Sustainability Fund in its inaugural year. Finance Minister Patricia Nelson made the announcement today, but cautioned the numbers are based on a forecast from now until the end of the fiscal year.

The Honourable Pat Nelson, Minister of Finance Download this picture (594k)

"I’m pleased the fund appears to be on track to be fully funded this fiscal year,” said Nelson. “However, it’s a long way to March 31, 2004.” The Alberta Sustainability Fund is a key component of the new fiscal framework that was introduced as part of Budget 2003-04. The fund is designed to protect ongoing operating spending from volatile revenue and the costs of emergencies and disasters. The priority for surpluses and non-renewable resource revenue over $3.5 billion is the Sustainability Fund until it reaches a minimum of $2.5 billion. The first quarter forecast puts the fund at $3.4 billion ($1.27 billion higher than the budget estimate) after withdrawals for emergencies in agriculture and forest fires.

“The legislation is clear that excess cash in the Sustainability Fund cannot be used for operating expenses. Under the legislation passed in the spring session, excess funds can only go towards debt repayment, the Capital Account or to improve other assets,” said Nelson. “The whole point of the new fiscal framework is to even out up and down spending that results from volatile resource revenue and from that perspective, the Alberta Sustainability Fund is doing its job.”

• complete news release
• 2003-04 First Quarter Update
• 2003-04 First Quarter Activity Report

First Quarter performance shows a net increase for Heritage Fund
August 27, 2003

The Alberta Heritage Savings Trust Fund made solid gains of 7.1 per cent in the first quarter and brought the Fund’s fair value to $11.7 billion as of June 30, 2003.  “The diversified portfolio of the Heritage Fund has performed exceptionally well in the first quarter,” said Alberta Revenue Minister Greg Melchin. Click on the links for:

• complete news release;
• Alberta Heritage Savings Trust Fund 2003-04 First Quarter Report.

Economic Spotlight - August 22, 2003

An Economic Spotlight document is available on the topic "Canadian Dollar: Pressures Abound", on the Economic Information page.

New auto insurance web site addresses proposed reforms
August 13, 2003

Edmonton… A new consumer focused web site will keep Albertans informed about auto insurance and the steps the government is taking to address rising premiums. The web site will update Albertans on proposed government reforms to auto insurance, and will provide consumers with general automobile insurance information. Click on the links below for:

• complete Information Bulletin
• visit www.autoinsurance.gov.ab.ca.

Economic Spotlight - August 13, 2003

An Economic Spotlight document is available on the topic "Negotiated Wage Settlements Update", on the Economic Information page.

Pension Publications added - August 12, 2003

• Employment Pension Plans Regulation Updated - An office consolidation of the Employment Pension Plans Regulation is now available for purchase. In January 2002, the Employment Pension Plans Act, RSA 2000, Ch. E-8 replaced the Employment Pension Plans Act, Ch. E-10.05, with the adoption of the Revised Statutes of Alberta 2000. There were no substantive changes to the Act, but all the section numbers changed. The Regulation is consolidated up to 245/2003 and updates all references to Act section numbers. A copy of the Regulation is available from the Queen’s Printer: Consolidated Regulation.
• The following documents have been added to the Pensions Publications and Forms section:
  • Time to Start a Pension
  • Accessing Pension Funds
  • Transfers to Locked-in Accounts
  • 2002-03 Annual Statistical Report.
  • Policy Bulletin #24 - Maximum Commutable Amounts
    (replaces EPPA Update 00-05)
  • Policy Bulletin #25 - Commutation due to Non-residency Status
    (replaces EPPA Update 00-06)

Economic Spotlights - August 8, 2003

Economic Spotlight documents are available on the topics "Demographics and Provincial Participation Rates"; and "Married with Children". These can be found on the Economic Information page.

Alberta Indian Tax Exemption Fuel and Tobacco Tax Rate Chart
August 6, 2003

This chart lists the products eligible for tax exemption under the Alberta Indian Tax Exemption program when purchased by eligible Indian consumers from registered retailers. Click here to view the chart.

July 2003

Revenue Minister to travel to New York to meet external fund managers and visit the New York Stock Exchange
July 28, 2003

Meetings with external investment managers and a visit to the New York Stock Exchange are scheduled for Revenue Minister Greg Melchin during his mission to New York this week. Click here for details.

Alberta set to lower tax rate on cigars
July 25, 2003

At 12:01 a.m. August 1, the tax on cigars will be reduced to 95 per cent of the taxable price, with a minimum tax of 15 cents and a maximum tax of $5 per cigar. These changes will bring the tax in-line with other provinces that followed Alberta’s lead and increased their tax rates on cigarettes, but did not increase their tax rate on cigars. Click here for details.

Alberta Revenue, Tax and Revenue Administration's Mail Strike Contingency Plans
July 17, 2003

Tax and Revenue Administration (TRA) has updated the following "Mail Strike Contingency Plan" information circulars:

• BD-7R1 (for bulk fuel dealers)
• FT-4R2 (for oil marketing companies)
• IFTA-6R1 (for carriers)
• LPG-3R1 (for propane producers and distributors)
• PRO-3R1 (for propane retailers)
• HRT-4R1 (for hotel operators)

Information Circular TTA-5R3 "Administration", for tobacco tax collectors, has also been updated to reflect current plans.

Information Circular CT-2, which is intended to assist corporations and their representatives in deciding whether the corporation is required to file an Alberta Corporate Income Tax Return (AT1 return), has been revised. Paragraph 8 has been revised and paragraphs 25 - 33 have been added. Click here to view the updated circular.

Government addressing consumer concerns with rising auto insurance rates - July 7, 2003

Calgary… Personal responsibility and a safe driving record will be the focus of new rules for auto insurance in Alberta. “As a government we have a responsibility to ensure Albertans have access to insurance that is fair, affordable and accessible,” said Finance Minister Patricia Nelson. Click here for the complete news release.

Alberta Royalty Tax Credit (RTC) Rate for Third Quarter of 2003
July 9, 2003

For the third quarter of 2003, commencing July 1, 2003, the RTC rate will be 25.00%. Click here for the updated Royalty Tax Credit rates. 

June 2003

New Name for Alberta Municipal Financing Corporation - June 27, 2003

Edmonton... The former Alberta Municipal Financing Corporation is pleased to announce its new name is now Alberta Capital Finance Authority (ACFA). The new name is more reflective of Alberta Capital Finance Authority’s shareholders, which includes Alberta municipalities, post secondary institutions, schools, regional health authorities, airport authorities and irrigation districts. Click here for the complete information bulletin.

Prescribed Interest Rates for Third Quarter of 2003
June 26, 2003

The prescribed interest rates for the third quarter of 2003 will be 4% for credit interest and 7.5% for debit interest. Click here for the Prescribed Interest Rates table.

Software Certified for AT1 Returns (AT1 RSI)
June 26, 2003

Revisions have been made to the list of software certified by Alberta Revenue, Tax and Revenue Administration for the AT1 forms for 1998 and subsequent years. Click here to view the list.

Alberta Population Report - 1st Quarter, 2003 - June 25, 2003

The Alberta Population Report for the 1st Quarter of 2003 (pdf) has been added to the Demographic Information page.

Government Annual Report shows Alberta’s strong performance despite global economic uncertainty - June 24, 2003

Calgary… The Government of Alberta delivered on its commitment to target dollars to Albertans’ priorities and preserve Alberta’s tax advantage. The results can be found in the Government of Alberta Annual Report for 2002-03, which was released today by the Minister of Finance, Patricia Nelson.

The Honourable Pat Nelson, Minister of Finance Download this picture

Click on the links below for:

• complete news release and backgrounder (charts)
• 2002-03 Government of Alberta Annual Report
• Consolidated Financial Statements
• Measuring Up

Heritage Fund challenged by a tough year on the markets
June 24, 2003

Edmonton… The three-year long bear market continued to take its toll on the Alberta Heritage Savings Trust Fund. "The global economy and global equity markets have been thrown a number of challenges this year," said Greg Melchin, Minister of Revenue. "Highly publicized corporate scandals shook investor confidence, the world economy slowed, tensions in the Middle East rose, and when investor confidence started to stabilize in the third quarter, a war broke out in Iraq. It has been difficult for everyone."

• Complete news release
• Backgrounder:  Why Invest in Equities? (pdf)
• 2002-03 Heritage Fund Annual Report

Government provides $94 million for operating and maintenance costs - June 19, 2003

Edmonton ... The Government of Alberta is providing an additional $94 million to assist publicly supported facilities with cost pressures for operations and maintenance. The one-time payments will be provided to school boards, post secondary institutions, regional health authorities, seniors lodges and other agencies across the province. Click here for the complete news release.

Alberta Fuel Dye Specifications and the Process to Become an Approved Dye Provider in Alberta
June 17, 2003

Alberta Revenue, Tax and Revenue Administration (TRA) no longer supplies Dye Concentrate to fuel suppliers for marking tax-exempt fuel in Alberta. Fuel dye providers wishing to become authorized to supply fuel dye in Alberta and have their name included on our website must follow the process discussed in Fuel Tax Act Special Notice Vol. 1 No. 16.

Revenue Minister to meet with securities regulators and fund managers in France, Belgium and England
June 13, 2003

Edmonton...  Revenue Minister Greg Melchin is travelling in France, Belgium and England to examine the regulatory structures for securities and meet with fund managers contracted to manage some of Alberta's $35 billion in investments. "This mission will allow for discussions in the area of securities regulation for businesses and investors, and also provide opportunities for expanding the relationship between Alberta and Europe," said Melchin. Click here for more information.

Stakeholders given opportunity for input on improving the securities framework in Canada
June 11, 2003

Edmonton... Stakeholders from across the country are being asked to provide input on a discussion paper proposing improvements to the securities regulatory framework and access to Canadian capital markets. Greg Melchin, Minister of Revenue for the Government of Alberta and Chair of a Steering Committee of Ministers, today released a discussion paper: Securities Regulation in Canada: An Inter-Provincial Securities Framework.

"Effective securities regulation is key to investor protection and efficient, vibrant and competitive national and local capital markets," said Melchin. "This paper sets out the goal and principles that Ministers will use in this reform initiative, along with the issues identified by stakeholders. Ministers have agreed that a passport system should be consulted on as a practical and timely response to issues that have been identified in the marketplace." The deadline for comments was July 15, 2003.  Click on the links below for:

• complete news release (English)
• complete news release (French)
• Provincial-Territorial Securities Initiative website

Bill 41 - Alberta Corporate Tax Amendment Act, 2003 - Processing of Alberta Corporate Income Tax Returns Before Passage of Bill
June 11, 2003

Bill 41 - Alberta Corporate Tax Amendment Act, 2003, remained on the order paper when the Spring sitting of the Third Session of the 25th Alberta Legislature adjourned on May 15, 2003. Bill 41 contains certain amendments with specified effective dates prior to Royal Assent, including the reduction in the general corporate tax rate and the increase in the small business threshold. Both are to be effective April 1, 2003, as announced in the 2003 Alberta Budget. It is expected that Bill 41 will be passed into law during the fall session with the effective dates as outlined in the bill. Click here for more information.

Future Summit input is a part of government business
June 5, 2003

Edmonton...  It has been one year since the Alberta Future Summit's 2002 Report to Government, Imagine our Tomorrow, was released, and many of the ideas Albertans proposed have been incorporated into government's plans and priorities. Click here for the complete news release and backgrounder, Building a Better Tomorrow:  An Update on the Alberta Future Summit 2002. 

May 2003

Alberta’s Sustainability Fund and Capital Plan topics of discussion in New York and Quebec - May 23, 2003

Edmonton ... Finance Minister Patricia Nelson is traveling to New York and Quebec to discuss the highlights and advantages of Alberta’s new fiscal framework with credit rating agencies, banking and investment firms and with members of Quebec’s new provincial government. Click here for the complete news release.

Interest rate set for Alberta Savings Certificates - May 22, 2003

Edmonton... The Alberta Savings Certificate rate has been set for the interest period June 1, 2003 to November 30, 2003. Click here for the information bulletin.

Approved Fuel Dye Suppliers List
May 22, 2003

Revisions have been made to the list of fuel dye suppliers approved by Alberta Revenue, Tax and Revenue Administration to supply fuel dye in Alberta. Click here to view the list.

Bill 35 - Tobacco Tax Amendment Act, 2003, received Royal Assent on May 16, 2003. The bill provides for a reduction of the weekly purchase limit of black stock tobacco products by eligible Indian consumers without an over limit voucher. The limit has been changed from 1000 grams (five cartons) to 400 grams (two cartons), effective 12:01 a.m. on May 26, 2003. The bill also introduces a discretionary measure that may require exempt sale retailers to obtain approval from Tax and Revenue Administration in advance of a sale of tobacco products in excess of the allowed weekly limit. Click here for more information. 

Government Announces Advisory Committee on Alternative Capital Financing - May 21, 2003

Edmonton... An eight-member committee will provide strategic and expert advice to the government on alternative financing approaches to capital projects. Tim Melton, the Executive Chairman of Melcor Developments Ltd. will chair the Advisory Committee on Alternative Capital Financing. Click here for the complete news release, terms of reference and committee members.

Province unlocks pension funds for those facing financial hardship - May 14, 2003

Edmonton ... Albertans and former Albertans facing financial hardship can now access their locked-in pension funds. The government has passed an amendment to the Employment Pension Plans Regulation that will allow locked-in fund owners, regardless of their age, to apply for permission to unlock their account. This amendment applies to all Alberta locked-in RRSPs, Locked-in Retirement Accounts (LIRA), Life Income Funds (LIF), and Locked-in Retirement Income Funds (LRIF). Click on the links below for:

• complete news release and backgrounder with criteria and supporting documentation needed with application
• application form and instructions
• EPPA Update 03-05.

April 2003

Pensions, Insurance and Financial Institutions (PIFI) Key Initiatives - April 9, 2003

The Business Plan of Alberta Finance outlines the major goals and the key strategies for the department for the coming three years. At an operational level, the Pensions, Insurance and Financial Institutions (PIFI) Division has identified supplementary initiatives that are necessary to its core business and that support the goals and activities of the Business Plan. The PIFI Key Initiatives document outlines these supplementary initiatives. It has been finalized with the input of stakeholders to ensure that these initiatives reflect their priorities.

Province appoints new members to the Alberta Securities Commission
April 9, 2003

Edmonton … The provincial government announced today the appointments of Dennis Anderson and Mike Shaikh to the Alberta Securities Commission, effective April 1, 2003. The government also announced Thomas Cooke's re-appointment. All three are effective for three-year terms. A previous order in council (131/2003), dated March 26, 2003, announced the appointment of John Swendsen, who has since withdrawn. Stephen Murison has also been appointed as member and vice-chair, a full time staff position. Click here for the complete news release.

Budget 2003 - Balancing the successes of the past with today's priorities and a new fiscal strategy for the future - April 8, 2003

Edmonton … A balanced budget that invests in health, education, infrastructure and transportation and a new fiscal framework that gets Alberta off the energy roller coaster are the focus of Budget 2003, which was tabled in the Alberta Legislature by Finance Minister Patricia Nelson. Complete news release below.

Minister of Finance Patricia Nelson
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Budget Speech:

• Minister of Finance Budget Speech 2003 (html)
  or view the following video clips (requires Real Player - free download):
• Overview (0:57)
• Capital Plan (0:48)
• Sustainability Fund (0:44)
• Taxes (1:18)
• Debt (0:27)
• Health Care (0:57)
• Infrastructure (0:48)
• Learning - K-12 (1:38)
• Learning - Post-secondary education (0:40)

Budget 2003 Documents:

• Budget 2003 Documents Index
• Budget 2003 Logo in Different Formats
• Alberta Finance Business Plan 2003-06
• Alberta Revenue Business Plan 2003-06
• Alberta Heritage Savings Trust Fund Business Plan 2003-06

News Releases and Backgrounders:

• Balancing the successes of the past with today’s priorities and a new fiscal strategy for the future; Charts and Graphs
  Backgrounder: Budget Summary by Ministry
• Budget 2003 says major projects a go
  Backgrounder: Centennial Capital Plan Activities and Programs
• $5 billion investment reinforces commitment to learning excellence
• Access and health reform the focus for health funding
  Backgrounder: Budget 2003 Summary, Alberta Health and Wellness
• Budget 2003 targets additional assistance to people most in need
• Affordable housing receives $15 million in new funding for 2003-04
• Homeless Shelters integrated with housing programs
  Backgrounder: Homeless Shelters and Support Programs

March 2003

Royalty Tax Credit (RTC) Rate for Second Quarter of 2003
March 31, 2003

For the second quarter of 2003, commencing April 1, 2003, the RTC rate will be 25.00%. Click here for the updated Royalty Tax Credit rates.

Alberta Population Report - 4th Quarter, 2002 - March 27, 2003
The Alberta Population Report for the 4th Quarter of 2002 (pdf, 48k) has been added to the the Demographic Information page.

Fuel Tax Act Special Notice: Fuel Tax Reengineering Phase 1
March 27, 2003

Cabinet amended the Fuel Tax Regulation on March 25, 2003, to provide for the implementation of the first phase of the re-engineering of the Fuel Tax program. Click here for the Special Notice that provides information on the changes.

AITE Direct Certified Software
March 27, 2003

Revisions have been made to the list of software certified by Alberta Revenue, Tax and Revenue Administration for AITE Direct. Click here for the updated list.

Heritage Fund survey results reflect Albertans' commitment to long-term savings
March 13, 2003

Edmonton … Results from the Looking Forward survey confirm Albertans want a strong, healthy Heritage Fund that is used primarily for savings (see survey results report). Sixty one per cent of Albertans feel the Fund should continue to operate primarily as an endowment fund, compared to 24 per cent who disagreed. Click on the links below for:

• complete news release
• Looking Forward Survey Results (html) or download the results in pdf format
• survey background information.

Prescribed Interest Rates for Second Quarter of 2003
March 11, 2003

The prescribed interest rates for the second quarter of 2003 will be 3% for credit interest and 6.5% for debit interest. Click here for the Prescribed Interest Rates table. 

February 2003

$1.8-billion surplus to be invested in Albertans' priorities - February 26, 2003
Capital projects, debt payment, and seed money for sustainability fund, Nelson reports in third-quarter fiscal update. Click on the links below for:

• complete news release and backgrounder (debt reduction table)
• Third Quarter Fiscal Update:  2002-03 Quarterly Budget Report
• Third Quarter Fiscal Update:  2002-03 Quarterly Activity Report

Third Quarter results show improved performance for Heritage Fund
February 26, 2003

Edmonton … The Alberta Heritage Savings Trust Fund made a strong recovery in the third quarter of this fiscal year, showing an increase in fair value of $522 million. As of December 31, 2002 the fair value of the Heritage Fund is $11.6 billion, up 4.5 per cent from $11.1 billion at September 30, 2002. Click on the links below for:

• complete news release
• Alberta Heritage Savings Trust Fund Third Quarter Report 2002-03

New Sustainability Fund will bring stability to Alberta's fiscal framework - February 24, 2003

Edmonton ... The Alberta government is poised to usher in a new fiscal framework for the province. On February 24,  Finance Minister Patricia Nelson introduced Bill 2, the Financial Statutes Amendment Act, in the Alberta Legislature.  The bill is designed to build on and enhance the province’s financial leadership. It will enable the government to establish a sustainability fund to protect Albertans from volatile energy prices and create a capital account to fund critical infrastructure. Click on the links below for:

January 2003

NHL Players Tax Return
January 31, 2003

This form would be used by players whose teams are not withholding tax on their behalf. Click here for the NHL Players Tax Return.

Tax and Revenue Administration's 2002 Client Survey Results
January 27, 2003

Alberta Revenue, Tax and Revenue Administration (TRA) conducts an annual survey to determine the satisfaction of its "clients" (the people who deal with TRA) with the administration of the tax and rebate programs, and with what it costs clients to comply with the relevant legislation. Click here for the 2002 survey results.

Alberta Economic Accounts 2001 publication now available
January 24, 2003

The Alberta Economic Accounts 2001 publication has been released.  Detailed information is available in the Alberta Economic Accounts publication, which can be purchased from the Statistics Unit. Click here for details on ordering this publication.  Click on the links for:  highlights of the economy in 2001; and historical comparison between the Alberta economy and Canada.

Alberta Population Report - 3rd Quarter, 2002
January 22, 2003

The Alberta Population Report for the 3rd Quarter of 2002 (pdf, 51k) has been added to the Demographic Information page.

BD-8R7 Information Circular Revised
January 20, 2003

Alberta Fuel Tax Act, Bulk Fuel Dealer Information Circular "Important Rates and Dates" (BD-8R7) - The expiry date of the Alberta Farm Fuel Benefit (AFFB) registration numbers was extended to December 31, 2003.  Click here for the revised information circular.