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February 5, 2021

Northwest Territories budget 202122 discussed

Northwest Territories Finance Minister Caroline Wawzonek tabled the territory's fiscal 2021-22 budget on February 4. The budget contains no new taxes and no income tax increases. The minister anticipates an operating deficit of $31 million for 2020-21 and projects operating surpluses of $69 million for 2021-22, $84 million for 2022-23 and declining surpluses for each of the next two years.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.


Full text of Tax Alert