Benefits of the FSMA

Gaining Access to the Benefits of the FSMA

The FSMA is available to all First Nations, including those First Nations who are currently exercising their property tax jurisdiction under s.83 of the Indian Act. First Nations who add their name to the First Nations Fiscal and Statistical Management Act schedule will be able to take advantage of the new property tax powers and access the full range of services provided by the institutions.

In order to opt into the property taxation and borrowing provisions of the FSMA, the Chief and Council of an interested First Nation must provide a resolution of Council, to the attention of the Minister of Indian Affairs and Northern Development requesting to be placed on the Schedule. The First Nation may also contact the First Nations Tax Commission for assistance in completing the process.  Click here to see the Ten Step Process to FSMA Participation.

Note: First Nations that are party to a self-government agreement and are not a “band” as defined by the Indian Act may be able to opt into the property tax and borrowing provisions of the FSMA through the development of a regulation made under section 141 of FSMA.

Other Benefits of the First Nations Fiscal and Statistical Management Act:

The institutions created by the FSMA will help:

• improve First Nations access to capital so they can buy infrastructure more “cheaply”;
• ensure First Nations get the best infrastructure for their money;
• create better information about First Nation communities and their investment opportunities;
• promote these investment opportunities;
• and inspire investor confidence in First Nations.

For more information about accessing the benefits (including a sample BCR) or if you wish to receive more info about the FNTC, please contact us at mail@fntc.ca or at either office.