Thank you, Mr. Chair. Mr. Chair, the Standing Committee on Government Operations concluded its review of Bill 17, An Act to Amend the Income Tax Act, on April 6, 2017, for the public hearing held here in the Legislative Assembly building. The bill amends the Income Tax Act by facilitating the provision of additional financial support to low- and modest-income families by:
● adjusting the formula for the NWT Child Benefit;
● incorporate provisions of the federal Income Tax Act that relate to the withholding of tax refunds;
● updating the names of some federal agencies;
● clarifying the definition of the Consumer Price Index;
● applying federal penalty provisions relating to false statements, omissions, or gross negligence in income tax returns;
● eliminating the Overseas Employment Tax Credit; and
● retaining the Education Tax Credit.
Members may have additional comments or questions as we proceed with the consideration of this bill. Thank you, Mr. Chair.