Yellowknife (March 24, 2016) – Minister of Finance Robert C. McLeod announced today that the Government of the Northwest Territories (GNWT) is pleased with the Government of Canada’s decision, announced in yesterday’s federal budget, to increase the Northern Residents’ Deduction by 33%.
This increase will put money in the pockets of NWT residents come next tax season. It is welcome news that will assist the GNWT in addressing our goal of lowering the cost of living for northerners.
We are pleased that the Liberal Government followed through on their commitment to raise the Northern Residents’ Deduction in response to my letter to all Canadian political parties during the last federal election. I hope we can persuade the federal government to consider indexing the Northern Resident’s Deduction or at the very least examine the rate on a semi-annual basis, instead of on an ad-hoc basis.
Both the federal and territorial governments have a responsibility to work in tandem to make the Northwest Territories an economically attractive place for businesses and people to establish themselves and the announced increase is a good first step.”
Senior Cabinet Communications Advisor
Department of Executive
Government of the Northwest Territories
Tel: (867) 767-9000 ext. 11091