The reason it costs us money is it reduces the amount of personal income tax that we collect. For example, the 2008 increase, since the claimed amount must be the lesser of the maximum allowable of $6,022.50 and 20 percent of net income, taxpayers with net income of less than $30,115 will not benefit from a northern resident deduction increase.
Bob McLeod on Question 457-17(5): Northern Residents Tax Deduction
In the Legislative Assembly on October 28th, 2014. See this statement in context.
Question 457-17(5): Northern Residents Tax Deduction
Oral Questions
October 27th, 2014
See context to find out what was said next.