Alberta’s low tax rate and favourable cost of living is aiding the provincial economy by helping retain and attract skilled workers, a new government-sponsored study indicates.
The Personal Tax and Costs of Living Study, prepared by KPMG Consulting, suggests that Alberta’s tax policies and low cost of living puts the province on good footing for diversifying and expanding its economy.
“These benefits are strong indicators to prospective investors, employers and skilled workers that Alberta is a dynamic, affordable place to live and work,” Economic Development Minister Mark Norris said in a recent news release.
“The fact that Alberta had the highest net migration in Canada last year certainly demonstrates just how attractive Alberta is.”
The study probed the total cost of living for skilled employees at five different salary levels, from $40,000 to $150,000. It compared 14 jurisdictions including seven Canadian and seven American cities.
“Alberta’s tax policies mean that Alberta employers are well positioned to compete for the highly skilled labour that is so important to the growth of our high-tech industries,” said Minister of Innovation and Science Victor Doerksen Alberta scored well in terms of the personal cost of living including taxes.
Calgary, Edmonton and Lethbridge were strongest, although Calgary ranked slightly lower in top income brackets due to higher housing costs (to see the full study, go to www.albertacanada.com/statpub/pdf/kpmg_col.pdf.
The study was commissioned by Alberta Economic Development as part of ongoing analysis to compare Alberta’s key investment characteristics.
