On March 4, 2021, Premier and Finance Minister, Sandy Silver, presented Yukon’s 2021–22 budget. As is expected to be the trend this spring in every Canadian jurisdiction, this year’s budget focuses on continuing to support residents throughout the COVID-19 pandemic and facilitating the territory’s economic recovery and future growth.
With a $15 million COVID-19 contingency fund and record capital spending, the budget projects a modest deficit of $12.7 million, which the government attributes to the impact of the global pandemic.
This year’s budget includes no new taxes or tax increases.
Further information on Yukon’s 2021 budget may be found on the province’s web site at: https://yukon.ca/en/budget
If you have questions about any of the tax changes proposed in recent Canadian budgets, please do not hesitate to call the Ryan TaxDirect® line at 1.800.667.1600.