Canada: No income tax changes in 2022 provincial budgets (Northwest Territories, Nunavut, Yukon)
All three budgets did not include any proposals for changes to the corporate or individual (personal) income tax rates.
Northwest Territories, Nunavut, and Yukon
The Northwest Territories, Nunavut, and Yukon recently tabled their respective budgets for 2022.
None of the three budgets included any proposals for changes to the corporate or individual (personal) income tax rates or any new income tax measures.
- The Northwest Territories would increase its cost-of-living offset benefit that generally reflects the upcoming scheduled increase to its carbon tax rate, along with an increase to property tax mill rates and other fees for inflation.
- Yukon would extend its temporarily expanded business investment tax credit until the end of 2026, as part of ongoing coronavirus (COVID-19) support.
Read a June 2022 report prepared by the KPMG member firm in Canada
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