News and Insights

Nunavut Budget 2013

Tax Development Feb 28, 2013

The Government of Nunavut (“GN”) Finance Minister Keith Peterson presented the territory’s 2013-14 budget on February 27, 2013. This budget includes a projected increase in revenue of 5% in 2013-14 compared to the current fiscal year. As a result, the government will run a surplus of $21.9 million in 2013-14, while maintaining a reserve of $45.6 million for contingencies.  The GN will continue to focus on their long-term goals of investment in housing, fighting crime, poverty and hunger, social services, employment, education and health for the people of Nunavut.  This year’s budget did not include any commodity tax changes nor were any new taxes introduced.