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Territories -> Nunavut
Nunavut Budgets - NU Department of FinanceInformation for all budget years can be accessed from the above link. The Nunavut 2011 budget was presented on March 1, 2011, with no income tax changes announced.
Nunavut Income Tax
Dividend tax creditEligible dividendsNU Income Tax Act, 2000 s. 2.32The dividend tax credit for dividends eligible for the enhanced dividend tax credit is 20% of the Federal gross-up amount, which at 45% gross-up is
The federal gross-up reductions, starting in 2010, will automatically reduce the amount of the NL enhanced dividend tax credit 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 dividendsNU Income Tax Act s. 2.32The Nunavut dividend tax credit rate for non-eligible, or small business dividends is defined as 20% of the 25% Federal gross-up. This is:
Refundable tax creditThis is refundable to the taxpayer even if no income tax was paid.
See Canada Revenue Agency (CRA) forms NU479 and the Territorial Worksheet from the Nunavut General Income Tax and Benefit Package page for detailed calculation. Tax tip: File a tax return even if you have no income, to get the refundable tax credits.
NU Government LinksHealth Care in NunavutCanada Revenue Agency (CRA) Links
Government benefits, programs and services.
Revised: December 12, 2011
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