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Tax
and Revenue Administration
Alberta
Corporate Tax Act
Special Notice Vol. 5 No. 21 |
Released: |
September 21,
2006 |
Produced by: |
Alberta Finance,
Tax and Revenue Administration |
For more information: |
tra.revenue@gov.ab.ca |
Vol.
5 No. 21 / September 2006
ALBERTA
CORPORATE TAX ACT SPECIAL NOTICE:
Discontinuance of Alberta Royalty Tax Credit (ARTC) and Royalty
Credit for Individuals and Trusts (RCIT) Programs
As announced by the Alberta government on September 21,
2006, (Energy
Minister confirms end of Alberta Royalty Tax Credit Program)
Alberta will discontinue its ARTC and RCIT programs for corporations,
individuals and trusts effective January 1, 2007.
Alberta Finance, Tax and Revenue Administration (TRA), is currently
revising the ARTC and RCIT claim forms (AT1 Schedules 6 and 7 for
corporations, AT60 for individuals and trusts) and the ARTC instalment
application form (AT158). TRA will
post the revised forms on our website with instructions for
claimants to make their claims or instalment application on eligible
Alberta crown royalties paid or payable by them in respect of production
before January 1, 2007.
All
claims must be submitted to TRA within three years of the claimants'
tax year-end. In the case of individuals, all claims must be submitted
within three years from the end of the calendar year for which the
eligible Alberta crown royalties are paid or payable. ARTC instalment
applications must be made before the end of the corporation's taxation
year.
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