New tax brackets for Alberta earners under $60,000
The Alberta government says shrinking the tax rate for lower income earners will keep more money in their pockets.
As of July 1, the provincial government’s new tax bracket for income up to $60,000 is now eight per cent, lower than the previous 10 per cent.
Individual taxpayers will save up to $750 in 2025, while two-income families will see savings of up to $1,500.
“We know times have been tight, and we’ve been working on ways to ease some of the pressure people are feeling right now,” said Premier Danielle Smith in a press release.
“We promised to help with a cut to personal income taxes, and we delivered on that promise in Budget 2025 with a new eight per cent personal income tax bracket. Now Albertans will start to see that reflected in their paycheques as more money can go to the things that individuals and families think are important.”
The government says most taxpayers will see this benefit start this month, when payroll withholdings are adjusted.