diff --git a/changelog_entry.yaml b/changelog_entry.yaml index e69de29bb..5f99c1ba6 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -0,0 +1,6 @@ +- bump: minor + changes: + added: + - Alberta 2025 tax reform with new 8% tax bracket on first $60,000 of income. + - Updated Alberta tax brackets for 2023, 2024, and 2025 with proper indexation. + - Updated Alberta basic personal amount for 2024 and 2025. \ No newline at end of file diff --git a/policyengine_canada/parameters/gov/provinces/ab/tax/income/credits/basic_personal_amount/amount.yaml b/policyengine_canada/parameters/gov/provinces/ab/tax/income/credits/basic_personal_amount/amount.yaml index 18dad74ef..83808aaab 100644 --- a/policyengine_canada/parameters/gov/provinces/ab/tax/income/credits/basic_personal_amount/amount.yaml +++ b/policyengine_canada/parameters/gov/provinces/ab/tax/income/credits/basic_personal_amount/amount.yaml @@ -4,6 +4,8 @@ values: # Section 44.2 defines indexing. 2022-01-01: 19_369 2023-01-01: 21_003 + 2024-01-01: 21_885 + 2025-01-01: 22_323 metadata: unit: currency-CAD period: year @@ -13,5 +15,9 @@ metadata: href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1ab/td1ab-22e.pdf#page=1 - title: Alberta income tax personal credit (2023) href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1ab/td1ab-23e.pdf#page=1 + - title: Alberta income tax personal credit (2024) + href: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/td1ab/td1ab-24e.pdf#page=1 - title: Alberta Personal Income Tax Act Division 3 Basic Personal Amount C href: https://www.canlii.org/en/ab/laws/stat/rsa-2000-c-a-30/latest/rsa-2000-c-a-30.html + - title: Alberta 2025-28 Fiscal Plan (2025 amount) + href: https://open.alberta.ca/dataset/5ebd05dc-d598-440b-9da2-25f37cd99a49/resource/43bccd72-36fa-41a4-becd-cb8c28da9683/download/budget-2025-fiscal-plan-2025-28.pdf diff --git a/policyengine_canada/parameters/gov/provinces/ab/tax/income/rate.yaml b/policyengine_canada/parameters/gov/provinces/ab/tax/income/rate.yaml index 4d83c574c..9ff1e0a4a 100644 --- a/policyengine_canada/parameters/gov/provinces/ab/tax/income/rate.yaml +++ b/policyengine_canada/parameters/gov/provinces/ab/tax/income/rate.yaml @@ -8,25 +8,52 @@ metadata: reference: - title: Government of Canada - Canadian income tax rates for individuals current and previous years href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html + - title: Alberta 2024-27 Fiscal Plan (Budget 2024) - 2023 and 2024 rates + href: https://open.alberta.ca/dataset/23c82502-fd11-45c6-861f-99381fffc748/resource/3782cc8f-fdc4-4704-9c50-07fc36e05722/download/budget-2024-fiscal-plan-2024-27.pdf + - title: Alberta 2025-28 Fiscal Plan (Budget 2025) + href: https://open.alberta.ca/dataset/5ebd05dc-d598-440b-9da2-25f37cd99a49/resource/43bccd72-36fa-41a4-becd-cb8c28da9683/download/budget-2025-fiscal-plan-2025-28.pdf + - title: Alberta Budget 2025 - Open Government + href: https://open.alberta.ca/publications/budget-2025 brackets: - threshold: 2022-01-01: 0 rate: 2022-01-01: 0.1 + 2025-01-01: 0.08 - threshold: 2022-01-01: 131_220 + 2023-01-01: 134_238 + 2024-01-01: 148_269 + 2025-01-01: 60_000 rate: - 2022-01-01: 0.12 + 2022-01-01: 0.12 + 2025-01-01: 0.10 - threshold: 2022-01-01: 157_464 + 2023-01-01: 161_086 + 2024-01-01: 177_922 + 2025-01-01: 151_234 rate: 2022-01-01: 0.13 + 2025-01-01: 0.12 - threshold: 2022-01-01: 209_952 + 2023-01-01: 214_781 + 2024-01-01: 237_230 + 2025-01-01: 181_481 rate: 2022-01-01: 0.14 + 2025-01-01: 0.13 - threshold: 2022-01-01: 314_928 + 2023-01-01: 322_171 + 2024-01-01: 355_845 + 2025-01-01: 241_974 rate: 2022-01-01: 0.15 + 2025-01-01: 0.14 + - threshold: + 2025-01-01: 362_961 + rate: + 2025-01-01: 0.15