Nunavut Finance Minister, David Akeeagok, tabled the 2018-2019 Budget on May 28, 2018. The government projects revenues of $2.177 billion, total expenditures of $1.864 billion, and projects a deficit of $30 million for the fiscal year. Although there were no new taxes or tax breaks announced, here are a few tax-related highlights from the Budget:
- the Budget's revenue projections do not include shared revenues from cannabis sales or the federal carbon tax backstop;
- the federally-mandated carbon tax will apply a 2.5 cents per litre tax on fuel sold in the territory; and
- the revenue impacts of cannabis and the carbon tax will be provided in a fiscal report at a later time.