Territories -> Nunavut
- tax brackets and applicable Alberta rates, plus combined federal/Alberta marginal tax rates for eligible and non-eligible Canadian dividends, capital gains and other income (interest, foreign dividends, employment, self-employment, etc).
- Detailed tax calculator which includes most deductions and tax credits, can be used to check your tax return or to do some tax planning for the next tax return.
- The Basic Tax Calculator works for all provinces and territories, and requires very little input. You input the amount of income from Canadian eligible and non-eligible dividends, capital gains, and employment/other income. This will produce a table of taxes payable for the current and past 5 years, for all provinces and territories, as well as your marginal tax rate for each type of income.
Nunavut Budgets - NU Department of Finance
Information for all budget years can be accessed from the above link.
The Nunavut 2019-20 budget was presented on February 20, 2019, with no income tax changes announced. However, the following tax changes were subsequently tabled in Bill 26, An Act to Amend the Income Tax Act:
- Refundable cost of living tax credit increased.
- Basic personal amount and spousal amount increased to $16,000 for 2019.
- Corporate tax rate for small businesses reduced from 4% to 3% effective July 1, 2019.
Nunavut Enhanced Dividend Tax Credit for Eligible Dividends
NU Income Tax Act, 2000 s. 2.32
The dividend tax credit for dividends eligible for the enhanced dividend tax credit is 20% of the Federal gross-up amount.
The federal gross-up reductions which started in 2010 automatically reduced the amount of the NU 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.
NU Income Tax Act s. 2.32
The Nunavut dividend tax credit rate for non-eligible, or small business dividends is defined as 20% of the Federal gross-up.
The Federal 2017 Fall Economic Statement announced that the gross-up rate for non-eligible dividends (also know as regular dividends, or small business dividends) would be reduced to 16% for 2018, and to 15% for 2019 and later years.
The rates for non-eligible dividends, if the NU tax credit rate remains at 20% of the federal gross-up, are reflected in the following table.
The Nunavut table of marginal tax rates shows the marginal tax rates for eligible and non-eligible dividends and other income.
A tax credit of $570 for 2016 ($578 for 2017) can be deducted from Nunavut income tax otherwise payable on Form NU428 of the tax return. This is a non-refundable tax credit. The amount is indexed each year for inflation. See Line 51 - Volunteer firefighters' tax credit on the Canada Revenue Agency (CRA) website for more information. See also the federal volunteer firefighter or search and rescue tax credit.
This is refundable to the taxpayer even if no income tax was paid. The basic amount of the tax credit is 2% of net income, to a maximum of $1,500 (2018 and earlier $1,200) per person.
A single parent with net income over $75,000 (2018 and earlier $60,000) is eligible for a supplement of 2% of the excess of net income over $75,000 (2018 and earlier $60,000), to a maximum of $255.12.
See Canada Revenue Agency (CRA) forms NU479 from the Nunavut General Income Tax and Benefit Package (link below) for detailed calculation.
Tax tip: File a tax return even if you have no income, to get the refundable tax credits.
NU Government Links
Statutes of Nunavut - Annual Volumes - Bills that have been passed.
Health Care in Nunavut
Canada Revenue Agency (CRA) Links
Revised: June 28, 2019
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