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Implement Alberta 2025 tax reform with new 8% bracket #512

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@MaxGhenis MaxGhenis commented Aug 24, 2025

Summary

Implements Alberta's major tax reform for 2025, introducing a new 8% tax bracket on the first $60,000 of income.

Changes

Tax Rate Structure

  • NEW: 8% rate on first $60,000 (down from 10% on entire first bracket)
  • Restructured all tax brackets for 2025:
    • $0 to $60,000: 8%
    • $60,000 to $151,234: 10%
    • $151,234 to $181,481: 12%
    • $181,481 to $241,974: 13%
    • $241,974 to $362,961: 14%
    • Above $362,961: 15%

Other Updates

  • Added missing 2023 and 2024 tax bracket values
  • Updated basic personal amount:
    • 2024: $21,885
    • 2025: $22,323 (2% indexation)

Impact

  • Taxpayers earning less than $60,000 will see taxes fall by 20%
  • Maximum savings: up to $750 in 2025

Fixes #507

Test plan

  • Verify Alberta tax calculations for 2025 use new bracket structure
  • Confirm 8% rate applies only to first $60,000
  • Test that higher income levels still use appropriate marginal rates
  • Verify basic personal amount is correctly applied

@MaxGhenis
Implement Alberta 2025 tax reform with new 8% bracket
7ce1a3c 
Fixes PolicyEngine#507

Major changes:
- Introduced new 8% tax rate on first ,000 (down from 10%)
- Restructured all tax brackets for 2025
- Added missing 2023 and 2024 bracket values
- Updated basic personal amount to ,323 for 2025
- All values indexed by 2% for 2025

This represents significant tax savings for lower and middle-income earners in Alberta.
@MaxGhenis
Add primary government source references for Alberta tax parameters
3f6428d 
- Replace secondary sources with official Alberta government documents
- Add Alberta 2025-28 Fiscal Plan as primary reference
- Keep CRA references for historical values
@MaxGhenis
Add comprehensive Alberta government references for all years
e84cf4e 
- Added Alberta Budget 2024 reference for 2023-2024 tax rates
- Added TD1AB 2024 form reference for basic personal amount
- All parameter values now have primary Alberta government sources
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Implement Alberta 2025 tax reform with new 8% bracket

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@MaxGhenis