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 Lacombe and help you answer the following fundamental questions.
What is the business climate in Lacombe?
We have compiled the most important aspects of Lacombe’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 Lacombe and assistance available to Lacombe businesses.
Provincial Tax Rates
No business tax. There is no business tax in Lacombe but businesses do pay tax on the property they own. The taxation year runs from January through December. Annual tax notices are mailed out in May while payment is due by the end of June. More information can be found here.
The taxation year runs from January to December. Tax rates will be updated each year in May once the tax bylaw is approved by City Council. View Lacombe's current tax rates here.
Offsite levies are charged for the purpose of reimbursing the City for the infrastructure costs associated with new developments where the subdivision of land is required. For more information on our offsite levy rate structure, please contact (403) 782-1268.
Lacombe’s wage and salary rates are competitive with the rest of Canada and with the United States. When total compensation rates are compared, Lacombe and Alberta provide even more of a cost advantage compared to the U.S., largely because of publicly funded health care. A summary of the average hourly earnings for the Lacombe CMA is shown in the table below.
Businesses in the City of Lacombe benefit from:
No provincial sales tax
No payroll tax
No inventory tax
No health care premiums
Lower personal income tax rates
The lowest fuel tax among provinces
Provincial small business income tax rate of just 2%
Starting Jan. 1, 2017, the small-business tax rate in Alberta will be cut from three per cent to two per cent — giving Alberta the second-lowest small-business tax rate in the country, tied with Saskatchewan.
Provincial corporate income tax rate of 11%