News and Insights

Yukon Announces Proposed Carbon Price Rebate Framework

Tax Development Jan 17, 2019

The Government of Yukon released their publication, “Proposed framework for the Yukon Government  Carbon Price Rebate”.  The Minister of Finance Sandy Silver also announced that carbon pricing revenues will be rebated to certain individuals and businesses in the territory. 

Individual Yukoners will receive their rebate in the form of four annual payments and other groups (i.e., First Nations and municipal governments) will receive the rebate through a single annual payment.  Quartz and placer mining operations will receive a rebate equal to 100% of the carbon levies paid to ensure that their operations are not subject to a competitive disadvantage.  Yukon businesses will be eligible for an income tax credit dependent upon a weighting of assets that consume or displace consumption of fossil fuels.  The government has also issued the “Yukon Government Carbon Price Rebate FAQ” publication to address the calculation of the carbon levy, rebates, and other information.