Payroll tax forecast for 1997/98 is $12,966,000, so roughly $13 million. As you know, to all territorial employees there is a balancing tax credit and we are anticipating, if my numbers serve me right, and believe that that actual overall net benefit before we deduct, if you want, our overall costs. It cost the living tax rate, the living tax credit, is $11,900,000. Oh dear. So $11,900,000 minimum the $12,900,000. I am told that there is roughly about 3 PYs run that $300,000, so a net benefit, I suppose to the Territories to save some aggravation, would be somewhere around $700 thousand. Now, as I said to you before, I was a bit of an advocate earlier on. I was trying to remove this tax, but given the activity that is going on, and quite frankly, the lack of political will and support, we maintained it so I think our best guestimate in this stage of the game is probably somewhere in the range of $1 million before our costs. Would that be right, Margaret? Yes. That is what it would be.
John Todd on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 10th, 1997. See this statement in context.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
February 9th, 1997
Page 517
John Todd Keewatin Central
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