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 Brazeau County and help you answer the following fundamental questions.
What is the business climate in Brazeau County?
We have compiled the most important aspects of Brazeau County’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 Brazeau County and assistance available to Brazeau County businesses.
Compared 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, it is clear why Alberta consistently has the highest growth amongst the provinces and territories.
As of January 1, 2017, the general Alberta corporate income tax rate is 12%. 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 27% for general businesses and 14% 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.
The Alberta government also offers additional tax credits to encourage capital investment into a wide variety of sectors.
Brazeau County has some of the lowest residential and non-residential tax rates in Alberta and Canada.
Machinery & Equipment: 0.009254
Total property tax payable is calculated by multiplying the mill rate by the total assessed value of a property.
The Economic Development and Planning Department manages development, subdivision and land matters in the County. The goal is to achieve orderly, economical and beneficial use of land to maintain and improve the quality of the physical environment.
Brazeau County is divided up into Land Use Districts, which designate uses. This information can be found in our current Land Use Bylaw. Land use policies help to diversify the economy by providing a long-term supply of strategically located Commercial and Industrial development sites.
Brazeau County issues two types of Developments Permits:
- For the construction of a building – which includes but is not limited to new construction or modification to structures and moving manufactured or modular homes to a new property. This type of application is also used for dugouts, storage containers (see cans), tree removal and other uses outlined in the Land Use Bylaw.
- For the operation of a business – this includes but is not limited to commercial, industrial and home occupations.
Click here for Economic Development and Planning permit application forms.
Before starting construction, whether new, renovations or repairs, the homeowner and/or builder should be aware that permits may be required.
Development permits can be obtained through the County office. Other permits such as building, plumbing, sewer, gas, heating and ventilation and electrical are available through agencies that administer the Safety Codes Act.
A list of accredited agencies servicing our area can be obtained by contacting the County office by phone at 780-542-2667 or by email at firstname.lastname@example.org.
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.
Brazeau County does not maintain a business licensing service, instead businesses are regulated through the development permit process. Currently Brazeau County does not charge a fee for development permits
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, welcoming and inclusive 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 12%
Leading employers in Brazeau County and the region include:
Alberta Health Services
Pembina Pipeline Corporation
Town of Drayton Valley
Weyerhaeuser Canada Ltd
Wild Rose School Division
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 Manufacuring (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