| Non-Refundable Tax Credits |
|---|
| Federal | Alberta | |
|---|
| 15,705 | 21,885 | Maximum Basic exemption to |
| 15,705 | 21,885 | Spousal & eligible dependent exemption (less their income) |
| 8,790 | 6,098 | Age exemption |
| Age credit elimination |
|---|
| 44,325 | 45,399 | Age exemption reducing by 15% of income greater than this amount |
| 102,925 | 86,052 | Age exemption is eliminated |
| Old Age Security (OAS) Clawback |
|---|
| 90,997 | | OAS claw back starts at 15% of income greater than this amount |
| CPP | CPP2 | |
|---|
| 3,867.50 | + 188.00 | CPP Max per employee | CPP - employee = 5.95% to max of $68,500 |
| 7,735.00 | + 376.00 | CPP Max per self-employed (2x employee) | CPP2 = 4.0% from $68,500 to $73,200 |
| Lifetime Capital Gains Exemption |
|---|
| 1,016,836 | | Lifetime capital gains exemption on the sale of Farm Land or Small Business Shares |
| Tax Savings |
|---|
| 31,560 | | RRSP annual Maximum based on 18% of $175,333 wage in prior year |
| 7,000 | | TFSA annual contribution (potential max now $95,000 if born before 1991) |
