What’s Coming in 2027

The CRA is offering SimpleFile for low income individuals

The CRA is offering SimpleFile for low income individuals with simple tax situations to make filing your taxes free, fast, and secure. Eligible individuals can review and approve a pre-filled tax return which can be found on your My CRA online account.

The Lowest Federal Personal Tax Rate Will Be Reduced

The lowest federal personal tax rate (first income bracket) will be reduced to 13.5% for the 2027 tax year, and 12.75% in the 2028 tax year.

Alberta Will Introduce a Vehicle Rental Tax Rate of 6%

As of January 1, 2027, Alberta will introduce a vehicle rental tax rate of 6%. This will apply to vehicles with 8 seats or fewer. Long-term car leases and non-passenger vehicles are exempt.

Increase To Educational Property Tax Over 2 Years

An increase to educational property tax over 2 years was announced in Alberta’s 2025 Budget to fund 33.4% of educational operating expenses in 2026-27.
Residential and Farmland Properties
·       Rate will increase from 2.72 to 2.84 per $1000 of equalized assessment
Non- Residential and Farmland Properties
·       Rate will increase from 4.00 to 4.17 per $1000 of equalized assessment

2027 RRSP Limit Increase

2027 registered retirement savings plan (RRSP) limit will increase to $35,390