On March 6, 2025, Minister of Finance Sandy Silver presented the Yukon’s 2025–26 budget. This year’s budget includes significant funding to improve healthcare and education, address housing affordability, support communities, and protect the environment, as well as strategic long-term infrastructure investments to strengthen and diversify the territory’s economy.
The budget projects an annual surplus of $82 million and $695.7 million in net debt at the end of the fiscal year. It also forecasts approximately $122 million more in revenue than 2024–25.
The budget includes a contingency fund of $75 million, which is an increase of $25 million over last year, for “expected but undefined expenditures” related to natural disasters, extraordinary pressures on healthcare and social services, and the potential negative impact of current U.S. trade policy on the Yukon economy.
The rate of tax on tobacco under the Tobacco Tax Act is calculated annually and is based on changes to the Whitehorse Consumer Price Index. As a result of this annual calculation, the tax rate per cigarette has increased by one cent to 36 cents, effective January 1, 2025.
This year’s budget includes no new taxes or other tax increases.
More Information
Further information on the Yukon’s 2025-26 budget may be found on the territory's website.
To read key updates from all of Canada’s latest provincial budgets, please visit our Key Changes | 2025 Canadian Federal and Provincial Budgets page.
If you have questions about any of the tax changes proposed in recent Canadian budgets, please do not hesitate to contact Ryan TaxDirect® at taxdirect@ryan.com or 1.800.667.1600.
- Topics
- Fuels and Excise Tax
- Yukon