Tax Rate On Proprietorships And Partnerships Careful planning with a Chartered Accountant is warranted. Contact Keith Anderson CA at (780) 447-5830 if you need advice. Since the income is taxed in the hands of the business owner, the tax rates depend on the owner’s marginal tax rate taking into account all other sources of income, deductions, and credits. Click HERE for the current tax rates in Alberta. Individuals are required to file their individual income tax returns on or before April 30th of the following year. If in the preceding taxation year your tax liability exceeds taxes deducted at source by more than $2,000.00, then income tax instalments are required on a quarterly basis. Quite apart from the income tax considerations, you should consider incorporating at the outset if your business venture is "risky" from a liability standpoint. Legal Notice And Disclaimer Privacy Statement | 
