Alberta's Finance Minister says indexing the personal income tax system will save Albertans $55-million on their 2016 taxes.

Joe Ceci was questioned at a news conference Wednesday morning about just how newsworthy the announcement is and whether it shouldn't have been made before people did their taxes.

"This is the time people are filing their taxes and they should know that we have indexed those tax brackets so they will be saving more money and it's another way we're making life affordable for Albertans," he says.

He says tax credit amounts will rise by 1.3 per cent in 2017 saving Albertans another $70-million.

The tax system is adjusted annually for inflation.

For the 2016 tax year, a one-income couple earning $75,000 with two children in Alberta will pay $3,555 less in total provincial taxes than they would in British Columbia, and $1,380 less than they would in Saskatchewan. In 2017, the same couple will pay $4,094 and $1,825 less in total provincial taxes, respectively.