The credit is refundable if it exceeds your payable income tax. The maximum annual credit before January 1, 2016, was $500. Since January 1, 2016, the maximum annual credit is $650. Other residents can claim the credit once their respective First Nation signs its:įor contributions to a recognized territorial political party or candidate for election to the Yukon Legislative Assembly by: People living on Yukon First Nations Settlement Lands of the following self-governing First Nations can apply for the credit: The credit is equivalent to 95% of territorial tax. It ensures that a taxpayer living on settlement land does not pay more tax than if they resided on non-settlement land. This tax credit is part of the tax-sharing arrangement. This credit came into effect on July 1, 1999. To file, you need the amount of the tax credit shown on YSBITC-1, Business Investment Tax Credit (issued by Government of Yukon).Unused amounts can be carried back 3 years, or forward 7 years.The maximum claim for a taxation year is $25,000.This is done in exchange for an agreed upon return and an individual tax credit of 25% on the amount invested. This credit allows Yukon organizations to issue shares to Yukon investors.What you need to know about the tax credit pay at least 25% of its salaries and wages to Yukon residents andĮligible organizations can apply for the Yukon Business Investment Tax Credit.
have its head office located in the Yukon.maintain permanent establishment in the Yukon.be an incorporated, private corporation.a Yukon resident on December 31 of the year in which the tax credit is claimed.If you invest in an eligible organization in the Yukon, you can receive this credit. To learn more, visit the CRA child and family benefits page, or phone 1-86. 5% of family net income over $35,000 (families with more than 1 child).įor example, if you have 1 child and your adjusted family net income is $37,000, your benefit will be reduced by:.2.5% of family net income over $35,000 (families with 1 child) or.This amount starts to be reduced when your adjusted family net income is above $35,000. $876 per year ($73.00 per month) for each dependant child.Yukon benefits available as of July 1, 2023: It's added to the Canada child benefit and is 1 monthly payment. The Canada child benefit program administers the Yukon child benefit.
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