Yukon

Lower tax

The lower rate of Yukon income tax is:

• 6% before January 1, 2005; and
• 4% effective January 1, 2005.

The income eligible for the lower rate is determined using the federal business limit.  However, effective January 1, 2007, the income eligible for the lower rate will be calculated using the Yukon business limit. The Yukon business limit will be $400,000.

You will have to prorate these amounts using the number of days in each period.

Higher tax

The higher rate of tax is 15%. This rate applies to all income not eligible for the lower rate.

For more information, see Dual tax rates.

Reporting the tax

On line 245 of Schedule 5, Tax Calculation Supplementary - Corporations, enter the amount of tax calculated.

Claiming the credits

• Political contribution tax credit
• Foreign tax credit
• Manufacturing and processing profits tax credit
• Mineral exploration tax credit
• Research and development tax credit

Forms and publications

• Schedule 5, Tax Calculation Supplementary - Corporations

Government partners

• Yukon (territorial site)