GNWT Pleased with increase to the Northern Residents' Deduction

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%.

Quotes

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.

  • Robert C. McLeod, Minister of Finance

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.”

  • Bob McLeod, Premier

Quick facts

  • The increase in the Northern Residents’ Deduction will put $6.8 million into the pockets of NWT tax payers.
  • The 18th Assembly will be discussing GNWT efforts to mitigate the high cost of living during the Business Planning Process and during the May/June Budget Session.

Related links

Media contact

Andrew Livingstone
Senior Cabinet Communications Advisor
Department of Executive
Government of the Northwest Territories
Tel: (867) 767-9000 ext. 11091
E-mail: andrew_livingstone@gov.nt.ca