Canada: No income tax changes in 2023 provincial budgets (Northwest Territories, Nunavut, Yukon)
None of the budgets included any proposals for changes to corporate or individual (personal) income tax rates or any new income tax measures
No income tax changes in 2023 provincial budgets
The Northwest Territories, Nunavut, and Yukon recently tabled their respective budgets for 2023.
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 budget indexes property tax mill rates and certain other fees for inflation.
- Nunavut introduced the Nunavut Carbon Credit, a new refundable tax credit that provides taxpayers with a direct cash payment every three months, among other tax changes.
- Yukon acknowledged that the tax rate on tobacco products increased to 32 cents* per cigarette (from 31 cents) as of 1 January 2023, due to changes to the Consumer Price Index (CPI).
Read a March 2023 report [PDF 239 KB] prepared by the KPMG member firm in Canada
*$=Canadian dollar
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