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 Didsbury and help you answer the following fundamental questions.
What is the business climate in Didsbury?
We have compiled the most important aspects of Didsbury’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 Didsbury and assistance available to Didsbury businesses.
Didsbury's property tax rates are reviewed annually to remain comparable in the region while still providing the high services that our residents and visitors deserve. All property taxes are calculated and billed using the property’s assessed value, as found on your property assessment notice, and the Town of Didsbury's approved property tax rate. The Town of Didsbury also offers the Tax Installment Payment Plan (TIPP) to assist landowners by allowing monthly payments rather than an annual lump sum payment. The current property tax rates are provided in the following table:
|2017 Tax Levy (Excluding Annexation)||Tax Rate|
|General Municipal Purposes|
|Residential / Farm Land||8.30|
|Residential Land - Vacant||15.00|
|Machinery & Equipment||9.10|
|Mountain View Seniors’ Housing||0.1491|
|Alberta School Foundation Fund (ASFF)|
|Residential / Farm Land||2.519|
Off-site levies are charges that developers pay to The Town of Didsbury to help with the cost of off-site infrastructure. Off-site infrastructure currently includes both water and wastewater treatment facilities and services.
The Town of Didsbury strives to ensure that development costs are competitive while ensuring that long term financial sustainability is preserved.
This link outlines the current Off Site Levy rates and fees structure. The Town of Didsbury does understand that Off Site Levies are often difficult for developers to pay immediately. As such, we would encourage you to contact us to discuss how we can assist you in moving your project forward.
All Planning and Development rates and fees are covered in the most recent version of the Town of Didsbury Rates and Fees Bylaw. Follow this link to examine what charges will be associated with your development.
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 $141,754.50. 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 per cent 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.
Owning your own home is more affordable in Alberta than in many other Canadian cities. Alberta housing prices are among the lowest when compared to equivalent cities in British Columbia or Ontario.
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, diverse and welcoming 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 11%
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 Manufacturing (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