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 Beaumont and help you answer the following fundamental questions.
What is the business climate in Beaumont?
We have compiled the most important aspects of Beaumont’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 Beaumont and assistance available to Beaumont businesses.
As of January 1, 2020, the general Alberta corporate income tax rate is 10%. The Alberta small business income tax rate is 2% for eligible small businesses with income up to $500,000. This is the second lowest rate across the nation and is the same as in the Province of Saskatchewan.
The combined federal/provincial corporate income tax rate in Alberta is 26% for general businesses and 11% for small businesses. 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
Alberta is known for its low tax rates and Beaumont is no exception. Beaumont businesses benefit from the savings realized from no provincial sales tax, no capital or payroll taxes and no machinery and equipment taxes.
No Business Tax
Beaumont does not charge a business tax. When compared with municipalities who do charge such a tax, this can save a business thousands of dollars a year.
Property Tax & Assessment
Beaumont offers a competitive tax environment, when compared to the taxes in Edmonton. Beaumont will be launching cost effective future development in the municipality. View Beaumont’s current non-residential property tax rate here
2018/2019 Non-Residential Mill Rate Comparison
|6||City of Leduc||8.5170|
To compare the mill rates between other Alberta communities click here
Municipal Development Plan
A Municipal Development Plan is a statutory planning document that sets out a clear vision for our community’s future and serves as an important decision-making tool for Council, Administration and all stakeholders. It’s the primary document that guides the future development and growth for the entire community.
Our new Municipal Development Plan is currently with the Edmonton Metropolitan Region Board and we are planning for approval in early 2019.
To view the current Municipal Development Plan click here.
Beaumont Design Guidelines
To view the current Design Guidelines click here
Land Use Bylaw
To view the current Land-Use Bylaw click here
For detailed information on Business Licenses and Permits in Beaumont click here.
Off-site levies are charged for reimbursing the municipality for the capital costs associated with new developments and growth. Transportation, wastewater, and water are examples of off-site projects that are necessary to provide appropriate off-site services to development areas.
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 $141,755. 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% 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.
Businesses in Beaumont benefit from:
No provincial sales tax
No payroll tax
No inventory tax
No machinery and equipment tax
No health care premiums
Lower personal income tax rates
The lowest fuel tax among provinces
Provincial small business income tax rate of just 2%
Starting Jan. 1, 2017, the small-business tax rate in Alberta was cut from 3% to 2% — giving Alberta the second-lowest small-business tax rate in the country, tied with Saskatchewan
The general income tax rate on businesses is being reduced from 12% to 8% over 4 years
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)
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.
Annual maximum insurable earnings
Employer contribution rate
Average Among Existing Employers
Annual maximum employer contribution