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The second edition of CFIB's Small Business Provincial Tax Index shows that Yukon tops the other territories but there is work to be done to make it competitive when it comes to small business-friendly tax systems.
The report considers the territories separately from the provinces given the unique financing formula the territories have with the federal government. Amongst the territories Yukon scored best followed by Nunavut and the Northwest Territories.
Of the five sub index areas examined, Yukon scored strongest on sales and excise tax and premiums and payroll tax, but scored poorly on corporate, personal income and property tax. In the coming months and years we'll urge the territorial and municipal governments to focus on these areas in order to improve the small business climate in the Yukon.
The full report and Yukon backgrounder are available on the right.