Yukon, the Northwest Territories and Nunavut recently tabled 2017 budgets.
While the Northwest Territories' and Nunavut's budgets did not adjust the corporate or personal income tax rates, Yukon announced that it would reduce its general corporate tax rate to 12% (from 15%) and its corporate tax rate for small corporations to 2% (from 3%), effective July 1, 2017. In addition, the Northwest Territories and the Yukon announced increases to tobacco tax.
Download this edition of Canadian Tax Adviser to learn more.
© 2018 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.