Vol. 5 No. 21 / September 2006 ALBERTA
CORPORATE TAX ACT SPECIAL NOTICE: As announced by the Alberta government on September 21, 2006, (Energy Minister confirms end of Alberta Royalty Tax Credit Program) Alberta will discontinue its ARTC and RCIT programs for corporations, individuals and trusts effective January 1, 2007. Alberta Finance and Enterprise, Tax and Revenue Administration (TRA), is currently revising the ARTC and RCIT claim forms (AT1 Schedules 6 and 7 for corporations, AT60 for individuals and trusts) and the ARTC instalment application form (AT158). TRA will post the revised forms on our website with instructions for claimants to make their claims or instalment application on eligible Alberta crown royalties paid or payable by them in respect of production before January 1, 2007. All claims must be submitted to TRA within three years of the claimants' tax year-end. In the case of individuals, all claims must be submitted within three years from the end of the calendar year for which the eligible Alberta crown royalties are paid or payable. ARTC instalment applications must be made before the end of the corporation's taxation year.
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