Thank you, Mr. Chair. We thank you for the opportunity to present Bill 17, An Act to Amend the Income Tax Act, to the Committee of the Whole. This bill responds to our commitment approved in the 2016-2017 budget to provide further financial assistance to low and modest-income families to raise their children through an enhancement to the Northwest Territories Child Benefit.

The amendments to the NWT Income Tax Act will allow us to enhance the NWT Child Benefit by providing a total of $2.2 million in direct support for children in families with annual income up to $80,000. This enhanced program supports a number of priorities in the 18th Legislative Assembly's mandate, including lowering the cost of living, fostering healthy families, and supporting the well-being of children so that they can develop to their full potential.

The new benefit amounts start at $815 for the first child under six and $652 for the first child six years of age and older. This per-child benefit is reduced for each additional child and as family income increases, but will provide benefits for children to every family with income under $80,000. This is a significant enhancement to the current program that completely eliminates benefits as early as $41,000 in annual income for a one-child family and $61,000 in annual income for a five-child family.

Bill 17 also includes the following technical amendments to the Income Tax Act to:

● incorporate provisions of the federal Income Tax Act on withholding of tax refund;

● update names of federal agencies;

● remove duplication of the Consumer Price Index determination;

● apply the federal penalty provisions for false statements, omissions, or gross negligence to the NWT Child Benefit program;

● eliminate the territorial Overseas Employment Tax Credit; and

● remove reference to the federal Education Tax Credit. Thank you, Mr. Chair.