WHITEHORSE—The Yukon government tabled a bill in the Legislative Assembly today to amend the Income Tax Act, which will benefit Yukon families.
“These amendments will preserve the Yukon government’s portion of the tax credits that would otherwise be eliminated due to changes announced in the federal budget,” Premier and Minister of Finance Darrell Pasloski said. “We know this will have a direct and immediate impact on many Yukon families, supporting the positive growth and development of children in our communities.”
Changes to the federal Income Tax Act announced last month will eliminate the Child Fitness Credit and the Children’s Art Tax Credit. The bill to amend Yukon’s Income Tax Act will preserve the Yukon government’s portion of these important credits for Yukon families.
The Yukon government is working to ensure Yukon youth will continue to enjoy the benefits of physical activities and participation in arts and culture.
Last year, the Yukon government announced changes to the tax regime to support lower-income and middle class families through reduced tax rates and enhancements to the Yukon Child Benefit and the Yukon Children’s Fitness Tax Credit.
“During difficult economic times, we want to ensure we are leaving more money in Yukoners’ pockets, to support families and allow them to contribute to our local economy,” Pasloski added.
The bill received First Reading in the Legislative Assembly today.