Cash Flow Relief: First Levy Instalment for 2020-2021 Reduced to $500
In response to the anticipated financial impacts of the COVID-19 pandemic, the Executive Committee of the Law Society of Alberta (“Law Society”) requested that the Alberta Lawyers Indemnity Association (“ALIA”) look at ways to address the impact of this crisis on the legal profession. With the full support of ALIA’s Executive Committee, acting in the capacity of ALIA’s Board, ALIA has implemented a one-time option for its indemnified lawyers to pay a nominal portion of the levy in the first instalment.
As was the case previously, there will be two options for payment of the annual base levy: one lump sum payment, due June 30, or two instalments, the first due June 30 and the second due December 31.
The significant change for the upcoming 2020–2021 levy is that the first instalment will be only $500 instead of half of the base levy, as was required in previous years.