Mr. Speaker, I have a return to a written question asked by Mr. Dent on June 21, 2000 regarding loan guarantees, GNWT debt and northern residents deductions.
- The GNWT has issued a total of $157,898,000 in guarantees for debt to the NWT Power Corporation, NWT Energy Corporation and NWT Housing Corporation.
The GNWT has issued a total of $22,200,000 in guarantees for debt to the secondary diamond industry.
Later today I will table a document showing the amounts of the issued guarantees in more detail.
- Later today, I will table the chart requested by Mr. Dent showing the minimum and maximum amounts of short-term debt owed by the GNWT in fiscal 1999-2000.
- The estimated pre-division Northwest Territories northern residents deduction, after adjustment to allow for late filers, was $105 million in 1997 and $115 million in 1998. These are the latest fiscal years for which this information is available. For the benefit of Members, the Northern residents deduction is a deduction from income subject to tax and is available to taxpayers in Canada who live in the NWT and other isolated parts of Canada in an amount equal to $5,490.
The estimated NWT share of the 1997 and 1998 northern residents deduction Is $77 million and $84 million respectively, with the remainder allocated to Nunavut.