February 19, 2004

Amendments introduced to the Alberta Personal Income Tax Act

Edmonton... The Alberta Personal Income Tax Amendment Act 2004 was introduced as Bill 11 in the Legislature today.

The most significant of the proposed changes to the Alberta Personal Income Tax Act will be to clarify the rules for calculating the provincial foreign tax credit. These changes include:

• ensuring the credit is not unintentionally denied when an individual pays tax in more than one foreign jurisdiction;
• paralleling changes made in the federal Income Tax Act that tighten the rules used to calculate the amount available to be claimed; and
• making certain a tax credit is not unintentionally denied in the event of an individual’s death.

Other proposed amendments will also parallel changes made to federal tax policies.

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For media inquiries, please contact:

Tracy Balash Assistant Director of Communications Alberta Finance (780) 422-2126
Dial 310-0000 for toll free access outside of Edmonton.