How it's done
The business climate is the general economic environment that local businesses operate in. Reviewing and understanding the local business climate provides valuable insights about the economy, costs, risks, and incentives that may impact the success of your business. This activity will guide you to better understand the business climate in Carstairs and help you answer the following fundamental questions.
What is the business climate in Carstairs?
We have compiled the most important aspects of Carstairs’s business climate as an interactive dashboard below. This dashboard provides valuable economic, resident, household, dwelling and development indicators that may influence the success of your business.
What costs and assistance should I know about?
Whether you have a new or existing business it is critical to be aware of costs, incentives and grants that impact your business. This dashboard provides you with a snapshot of the major costs of conducting business in Carstairs and assistance available to Carstairs businesses.
In comparison to other provinces, businesses in Alberta enjoy a distinct advantage when it comes to corporate income taxes. With no provincial sales tax, no payroll tax, no health care premiums, lower personal income tax rates and the lowest fuel tax among provinces. Alberta continues to be a great destination to do business thanks to its infrastructure, strong urban growth centers, increasingly diverse economy, growing population and lucrative investment opportunities.
As part of Alberta’s Recovery Plan, the provincial government has accelerated the Job Creation Tax Cut, reducing the general corporate income tax rate to 8% on July 1, 2020, a year and a half sooner than originally planned. Alberta’s Recovery Plan also introduces the Innovation Employment Grant (IEG), a program that will help create jobs for Albertans by supporting small and medium-sized businesses that invest in research and development.
The Alberta small business income tax rate is 2 percent for eligible small businesses with income up to $500,000 and a competitive corporate income tax rate is in place for manufacturers. Businesses also benefit from the fact that Alberta has no inventory tax, no machinery and equipment tax and no payroll tax, which are common in many other provinces and U.S. states. Learn more
Want to compare the mill rate between communities? Click here
Specific information on Assessments and Tax in Carstairs can be found on the Town of Carstairs Property Tax web page by clicking here.
The Town of Carstairs Standard Development Agreement can be found here.
Water and Sewer
Residents in the Town of Carstairs receive their water from the Anthony Henday Water Treatment Plant at Innisfail, a safe, reliable source of potable water. This water treatment plant incorporates state-of-the art membrane filtration. The Town of Carstairs provides water, wastewater (sewer), garbage, composting and recycling services. Sewage treatment is provided by four short and two long detention lagoons.
For Water and Waste Water rates in the Town of Carstairs, please refer to the current Rates and Fees Bylaw by clicking here.
Alberta’s wage and salary rates are competitive with the rest of Canada and with the United States. When total compensation rates are compared, Alberta provides a significant cost advantage compared to the U.S., largely because of publicly funded health care.
Detailed wage and salary information for over 400 occupations in Alberta is available here.
Alberta is one of the most affordable places in Canada to live. Here’s a look at some of the financial benefits of life in Alberta.
Families in Alberta typically enjoy a higher family income than other parts of Canada. Median total single-family household income is $141,754.50. Also, 50.1% of household incomes are equal to or greater than $125,000.
Lower cost of living
Alberta offers many cost-of-living advantages:
- No provincial health-care premiums.
- No provincial sales tax (PST). Residents in every other province pay up to 10 per cent in addition to the Goods and Services Tax (GST) paid by all Canadians.
- Tax rebates and credits are available to further help with your finances.
You can compare how Canadians spend their incomes in major cities here.
Owning your own home is more affordable in Alberta than in many other Canadian cities. Alberta housing prices are among the lowest when compared to equivalent cities in British Columbia or Ontario.
Every year, people from across Canada and all over the world choose Alberta as an ideal place to work and live. Alberta's high standard of living, diverse and welcoming communities, and beautiful landscapes make it a wonderful place to call home.
Businesses in Alberta benefit from:
No provincial sales tax
No payroll tax
No inventory tax
No machinery and equipment tax
No health care premiums
Free provincial health care insurance
Lower personal income tax rates
The lowest fuel tax among provinces
Small business income tax rate of just 2%
Corporate income tax rate of 11%
The Workers Compensation Board (WCB) of Alberta was created by government to administer the Workers Compensation Act for the province’s workers and employers. Funded by employers the WCB provides cost-effective disability and liability insurance for work related injury and illness. The WCB compensates workers for lost income and coordinates the health care and other services that may be required to recover from a work-related injury.
Learn More: Workers’ Compensation Board of Alberta
|Average Cost for All Manufacturing (per $100 Payroll)||(Per $100 of insurable earnings)||$0.24 - $2.94|
|Average Rate for Office Workers||(Per $100 of insurable earnings)||$0.13 - $0.25|
|Maximum Weekly Benefit||(90% of maximum insurable earnings $98,700)||$1,225.61|
Source: WCB rates by sector and industry
The Canadian Revenue Agency (CRA) is the governing federal body for all legislation related to employment insurance (EI) in Canada. Businesses must deduct employment insurance from an employee’s insurable earnings if that employee is in insurable employment during the year. Insurable employment includes most employment in Canada under a contract of service (employer – employee relationship). There is no age limit for deducting EI premiums.
|Taxable Base||Annual maximum insurable earnings||$51,300.00|
|Rate %||Employer contribution rate||2.282%|
|Average Among Existing Employers||Annual maximum employer contribution||$1,170.67|
Source: Payworks Payroll Legislation