“Many Yukoners have noticed that they are receiving more money back this tax season and some have contacted my office about it. I would like to take this opportunity to explain what has likely brought this good news.
- In budget 2016, we provided a very large increase to the Northern Residents Tax Deduction from $16.50 to a maximum daily residency deduction to $22 effective as of January 1, 2016.
- As well we made substantial changes and increases to the Canada Child Benefit. Many families will have been receiving the new Canada Child Tax benefits since July 2016. Unlike parts of the previous program for children, the new Canada Child Benefit is tax-free and is not added to your income.
- As well, in December 2015, we passed the Middle Class Tax Cut which lowered the taxes for 9 million Canadians. The average couple that benefits will receive an addition $540 in tax relief every year.
These new large tax breaks probably result in the increased rebates many Yukoners are surprised but happy about.
Just to remind you that 2016 personal tax returns are due on April 30, 2017; as April 30 is a Sunday, your return will be considered filed on time if it is postmarked on or before May 1, 2017.”
Office of Larry Bagnell, MP Yukon