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 Crossfield and help you answer the following fundamental questions.
What is the business climate in Crossfield?
We have compiled the most important aspects of Crossfield’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 Crossfield and assistance available to Crossfield businesses.
Town of Crossfield municipal taxes are calculated from January to December of each year.
Tax amounts are based on the assessed value of your property and the tax mill rate. The Taxation Bylaw is decided by Town Council each year based on budget requirements for the current year. 2020 Tax Mill Rates are listed below:
|Machine & Equipment||10.710|
For more information please click here
The Town of Crossfield is dedicated to ensuring that there is growth within the community. There is a wide variety of industrial, manufacturing, and commercial companies located within Crossfield that contribute to the economic economy. Crossfield is a strong option for businesses looking to expand their operations, or new businesses looking for a location.
New businesses locating or opening operations within Crossfield are considered developments and will need to conform to the Land Use Bylaw and other planning documents such as the Municipal Development Plan, Downtown and Entrance Area Redevelopment Plan and the Rocky View/Crossfield Intermunicipal Development Plan.
Development projects will require an application, review and an approval prior to starting any new business, new construction, etc.
Starting a New Business
Crossfield is a great location to start a new business. A booming industrial/manufacturing centre and expanding residential communities provide the ultimate live, work, play relationship.
Home Based Business
A Home Occupation permit will be required for any home-based businesses.
Please visit the Home Occupation page for more details.
New Business Permits
A development permit is required for any new business and new construction. New construction includes most sheds, accessory buildings, garages, and fences.
Below are the applications and supporting documents for your information, however, if you have any questions please contact the town office for further assistance.
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