Territories -> Northwest Territories
(accessed from the Calculators page)
NT 2009 Budget
There were no personal income tax changes in the NT
2009 Budget.
For more information see the Northwest Territories
government Budget
address.
Northwest Territories dividend tax credit
Eligible dividends
NT Income Tax Act s. 2.32(b)
The dividend tax credit for dividends eligible for the enhanced dividend tax credit
is 6.67/18ths of the Federal gross-up amount, which at 45% gross-up
is
 |
11.5% of grossed-up dividends |
|
16.675% of actual dividends |
The federal gross-up reductions, starting in 2010, will
automatically reduce the amount of the NT enhanced dividend tax credit as
follows:
| Year |
2009 |
2010 |
2011 |
2012 |
| Gross-up % |
45% |
44% |
41% |
38% |
| enhanced dividend tax credit as a % of |
| grossed-up dividends |
11.5% |
11.32% |
10.78% |
10.20% |
| actual dividends |
16.68% |
16.30% |
15.19% |
14.08% |
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 30% of the 25% Federal
gross-up for 2007 and later years. This is:
|
6% of grossed-up dividends |
|
7.5% of actual dividends |
NT refundable tax credits
These are refundable to the
taxpayer even if no income tax was paid.
|
Cost of living tax credit
 |
amount received depends on adjusted net
income |
|
not just for low income individuals |
|
|
Cost of living supplement
|
for taxpayers 18 years of age & older |
|
supplements for taxpayer & spouse |
|
less cost of
living tax credit for taxpayer & spouse |
|
can be claimed by either spouse |
|
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.
See our information on government
benefits, programs and services.
NT Government Links
Department of Finance
Taxation,
including:
Taxation
Legislation
Personal
Income Tax
Corporate
Income Tax
Budgets
Canada Revenue Agency (CRA) Links
NT
Personal income tax and benefit package
NT
Corporation income tax
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Revised: July 14, 2010
|
