Executive summary
On 19 February 2020, Nunavut Finance Minister George Hickes tabled the territory’s fiscal 2020–21 budget. The budget contains no new taxes and no tax increases.
The Minister projects a deficit of CA$30.5 million1 for 2020–21.
The following is a brief summary of the key tax measures.
Detailed discussion
Business tax measures
Corporate tax rates
No changes are proposed to the corporate tax rates or the $500,000 small-business limit.
Nunavut’s 2020 corporate tax rates are summarized …