We get revised amounts monthly, but the date by which most returns are in is October, so October is a month we look to to get more certainty.
Debates of March 7th, 2013
This is page numbers 2429 – 2482 of the Hansard for the 17th Assembly, 4th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was going.
Topics
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Bob Bromley Weledeh
My last one. I see our federal transfer grant from Canada still remains a very large proportion of our budget, and I believe 2014 was the end of our current agreement on the formula for that. Could we just get an update? Does
that happen during this fiscal year we’re discussing, and where are we in renewing and is there anything that concluded that the Minister could share with us?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Michael Miltenberger Thebacha
This arrangement, the Territorial Formula Financing will be a status quo arrangement until 2018-19, the same commitment that was given by Minister Flaherty when we, as well, with the health transfer and the social transfer.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Bob Bromley Weledeh
Thanks for that information. Does that mean the same sort of rate of increase, or does it mean the amount we’re getting this year is what we’re getting annually until ’18-19?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Michael Miltenberger Thebacha
The criteria for the formula stay the same, so it’s still governed by things like tax effort and the amount of money spent in other jurisdictions. And their operations, as I indicated in my budget address, we anticipate with the deficit reduction going on across the land, that our formula could be affected negatively, but the criteria and all the elements of the formula have been left in place until 2018-19, but we’re still bound by those variables.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Daryl Dolynny
Thank you, Minister Miltenberger. Committee, we’re on 5-9, Finance. Mr. Bouchard.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Robert Bouchard Hay River North
Thank you, Mr. Chair. I’m just looking at the taxation revenues. I’m just looking at the projection, the main estimates for 2012-13 and ’13-14. Obviously, we’re seeing an increase, if you compare those numbers, but the revised estimates have us at $312 million. I’m just wondering why we wouldn’t project that same type of number and why that number has jumped up from our main estimates and would we not expect that in the future years to come?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Aumond
Thank you, Mr. Chair. Personal income tax and corporate income tax, by their nature, are volatile. The reason we had the bump in 2012-13 to the revised estimates is we had, in particular with corporate income tax, a couple of companies that filed for previous years and restated their taxes over and above the estimate that Canada provides us. Companies can go back and file taxes for up to seven years. We had a couple of large companies do that this past year, which is the main reason for the increase in the taxes. When we try to project what is going to happen further, we take some guidance from Canada but also what is going on in the territory. If we discount those companies that re-filed, then we are just projecting a modest increase over what we had projected at the beginning of last year. Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Daryl Dolynny
Committee, we are on 5-9, Finance, information item, revenue summary. Any questions?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Daryl Dolynny
Page 5-10, Finance, information item, active position summary. Any questions?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Daryl Dolynny
Thank you. Page 5-13, Finance, activity summary, deputy minister’s office. Mr. Bromley.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Bob Bromley Weledeh
Thank you, Mr. Chair. I would just like to get on top of this business. The contributions to the NWT Power Corporation are not territorial power subsidy funding. Am I right in that assertion? Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Bob Bromley Weledeh
Okay, thank you. I see that the last year we contributed $10.6 million to the general rate application. That is a subsidy, I believe, to electricity rates and that’s dropping to $3.5 million for this proposed fiscal year. Will that continue in future years? Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Kalgutkar
Thank you, Mr. Chair. That’s correct. For the 2014-15 fiscal year it’s going to drop to about 1.3 or 1.4 million dollars. Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Bob Bromley Weledeh
Thank you. Now, the Inuvik gas contribution I see $5 million last year, $5.9 million proposed for this year. What is the status of that? Are we expecting that to continue as well? Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Kalgutkar
Mr. Chair, the Member is correct. It is going to continue on for the next few years, and then it will also drop off after the 2015-16 fiscal year. Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters