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new handouts to O&G as Alberta gives tax holiday to Oil Producers

  • Last Updated:
  • Oct 20th, 2020 1:46 pm
[OP]
Deal Addict
Dec 20, 2018
3885 posts
3105 upvotes

new handouts to O&G as Alberta gives tax holiday to Oil Producers

I guess the 3B the feds gave in the spring and ongoing billions was not enough in addition to the corporate tax cuts used for share buybacks by the companies

but i don't see why the tax holiday is not for other businesses impacted as well and only O&G?

https://www.theglobeandmail.com/busines ... producers/
Oil producers in Alberta will get a three-year property tax vacation on new wells and pipelines and will no longer have to pay a well-drilling equipment tax, the province announced Monday.
But rural municipalities remain concerned the government has done little to help them claw back what they estimate is $173-million in taxes they’re already owed by energy producers.

The tax breaks dance a fine line between appeasing both the energy industry and the United Conservative Party government’s rural base. Municipal Affairs Minister Tracy Allard said she hopes the change will help an industry battered by low oil demand and prices, but acknowledged it’s an interim measure as the province works on a long-term solution.
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