On May 24, 2012, Minister of Finance J. Michael Miltenberger delivered the Northwest Territories (“NWT”) budget focusing on restoring fiscal balance and sustainability.
No new taxes were announced; however, following a commitment expressed by the NWT a few years back (i.e., in the 2010-2011 budget), certain taxes and fees have been increased to adjust for inflation. Property tax mill rates and liquor mark-ups were impacted by this commitment as they have been increased along with a number of other fees, effective April 1, 2012.
Further details on the Northwest Territories Budget 2012-2013 are available from the Northwest Territories Finance website at: Northwest Territories Budget 2012.