On February 5, 2015, the Honourable J. Michael Miltenberger, Minister of Finance, presented the Northwest Territories budget, which reflects the government’s commitment to protect programs and services, manage debt and expenditure growth, and maintain a stable tax environment to support the economy.
Consistent with last year’s budget, there are no new taxes for fiscal 2015-2016. However, effective April 1, 2015, property tax mill rates and other fees will be adjusted for inflation in accordance with the government’s inflation indexation policy. Despite the almost flat revenue growth in the territories, the government plans to strategically invest in infrastructure and will continue to constrain expenditure growth. Other initiatives include reducing the territory’s reliance on non-renewable energy sources, improving the health and well-being of residents, and environmental stewardship. The budget is projecting a $147 million operating surplus in 2015-2016.
Additional information on the Northwest Territories Budget 2015-2016 is available at the link below:
- Topics
- Sales Tax