The tax changes in 2018 include a hike in carbon price and a cut to the federal small business tax rate. As of January 1st, Albertans will be paying more in carbon tax from $20 per tonne of emitted carbon dioxide to $30 per tonne. For individuals who qualify, they can expect a 50 percent increase in rebate cheques. Businesses do not qualify under the rebate program, but a positive for businesses is a decrease in the federal small business tax. For the first $500,000 active business income, the rate will drop from the current level of 10.5 percent to 10 percent.

Read more: Tax changes in 2018 include hike in carbon price, cut to small-business rate