The cost of living tax credit is designed to give… I guess I’ll start back earlier. Every person in the NWT, whether you’re a resident of the NWT or not, pays payroll tax on the wages they earn. The cost of a tax credit is designed to help shield, to a certain degree, those NWT residents from payroll tax by giving them a rebate up to a certain threshold. Beyond that, if you’re a higher income earner, then you actually don’t get that tax back. Member Hawkins said what would it cost if you increase it by $1,000. It would cost us $1,000 by however many taxpayers we had in the territory, which would be foregone revenue that we currently can make today. Thank you.
Mr. Aumond on Consideration in Committee of the Whole of Bills and Other Matters
In the Legislative Assembly on February 16th, 2015. See this statement in context.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
February 15th, 2015
Aumond
See context to find out what was said next.