Territories -> Northwest Territories

NT Budget

There were no new taxes announced in the NT 2011 Budget on February 3, 2011.  However, a carbon tax and a hotel tax will be researched and considered.

For more information see the Northwest Territories government Budget address.

NT Tax

Northwest Territories/Federal tax brackets and marginal tax rates

Canadian Tax Calculator

Dividend tax credit

Eligible dividends

NT Income Tax Act s. 2.32(b)

Starting with the 2011 taxation year, the dividend tax credit for the enhanced dividend tax credit is 11.5% of the taxable dividend amount.  Previously, the dividend tax credit was 6.67/18ths of the Federal gross-up amount.

The NT enhanced dividend tax credit is as follows:

The Federal 2008 Budget reduced the gross-up rate and the dividend tax credit rate for dividends eligible for the enhanced dividend tax credit.  See the Enhanced Dividend Tax Credit article for details.

Non-eligible dividends

NT Income Tax Act s. 2.32(a)

The Northwest Territories dividend tax credit rate for non-eligible, or small business dividends (25% gross-up) is defined as 6% of the taxable dividend, which is 7.5% of the actual dividends.

NT refundable tax credits

These are refundable to the taxpayer even if no income tax was paid.

See  Canada Revenue Agency (CRA) forms NT479 and the Territorial Worksheet from the  Northwest Territories General Income Tax and Benefit Package page for detailed calculations.

Tax tip:  File a tax return even if you have no income, to get the refundable tax credits.

NT Government Links

Department of Finance

Taxation, including:

Taxation Legislation

Personal Income Tax

Corporate Income Tax

Budgets

Health Care in Northwest Territories

Health and Social Services

Health Care Plan

Seniors Benefits - Prescription Drugs

Canada Revenue Agency (CRA) Links

NT Personal income tax and benefit package

NT Corporation income tax

 

Government benefits, programs and services.

Revised: December 12, 2011