Alberta Party promises to double small business tax deduction to $1M

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The Alberta Party also promises to lower the general corporate tax rate from 12 per cent to 10 per cent.

The change would restore Alberta's place as the most competitive jurisdiction in Canada on corporate tax rates, the party said in a release.

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The tax cuts wouldhave a short-term budget impact in the first year of about $400 million, the party says.

It would pay for itself by its third year and by full implementation in 2023 it would generate an estimated $1.5 billion in additional annual revenue, while expanding the economy by $16 billion.

Earlier this month, Jason Kenney promised that a United Conservative Party government would reduce the corporate tax rate even lower, to eight per cent by 2022, making it the lowest in Canada.

Mandel said the Alberta Party would not roll back the increase to the minimum wage.

"I think that ship has sailed," he said.

Mandel said there are other challenges faced by small- and medium-sized businesses such as rising WCB costs, excessive regulationsand new statutory holiday pay requirements that could be addressed.

"So let's work with them to find ways to do things better," Mandel said.

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