Territorial 2017 Budgets Round-Up - Yukon Cuts Corporate Income Tax Rates

Territorial 2017 Budgets Round-Up

Yukon, the Northwest Territories and Nunavut recently tabled 2017 budgets.

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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.

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