Share with your friends

Canada: Individual taxpayer, small business tax measures in Nunavut legislation

Canada: Nunavut legislation received Royal Assent

Nunavut's Bill 26 received its third reading on 6 November 2019 and Royal Assent on 7 November 2019.


Related content

With this, the following tax measures are now enacted:

  • A reduction of the small business tax rate to 3% (from 4%), effective 1 July 2019
  • An increase in the basic personal amount to $16,000* (up from $13,325 in 2018), with proportionate changes to the spouse and equivalent-to-spouse amounts, effective 1 January 2019
  • An increase in the cost of living tax credit to a maximum of $1,500 (up from $1,200 in 2018) effective 1 January 2019

Read a November 2019 report prepared by the KPMG member firm in Canada


*$ = Canadian dollar

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal