On February 6, 2019, the Honourable Robert C. McLeod, Minister of Finance, presented the fiscal 2019–2020 Northwest Territories budget. The aim of this budget is to invest in the territory and its people to create an environment where all of its citizens, communities and regions can share in the benefits of a healthy, just, sustainable and prosperous society.
This year’s budget did not contain any announcements related to new taxes or tax rate increases. However, the Minister reaffirmed the introduction of a previously announced tax and commented on a tax measure that was implemented late last year, as noted below.
The budget address reaffirmed the territory’s commitment to introduce carbon pricing under the Pan-Canadian Framework on Clean Growth and Climate Change through a Northwest Territories developed plan that includes a carbon tax at $20 per tonne, commencing on July 1, 2019. The legislation to implement this carbon tax will be introduced during this term. The Minister also commented that the territory is expecting $747,000 in additional revenues in 2019–2020 as its share of the federal cannabis excise tax. However, while supply shortages are currently impacting cannabis sales and revenues, the territory expects the national supply issues to be resolved during the next few months.
Additional information on the 2019–2020 Northwest Territories budget is available on the Northwest Territories Department of Finance website at:
- Topics
- Federal