If you find yourself wishing there were more hours in day, you should check out Yukon. Also known as the “land of the midnight sun”, Yukon boasts almost continuous sun for three months a year.
Yukon has a tax system similar to other Canadian provinces.
Many of the provincial taxes and credits for residents of Yukon compliment similar credits at the federal level, but there are many unique credits for residents of Yukon.
Progressive Tax Rate Structure
As with most provinces, Yukon uses a progressive tax structure. The tax brackets increase each year, based on inflation. Visit the Yukon Government’s Income Tax Rates page for this year’s tax bracket rates.
Yukon’s Income Tax Brackets and Rates for 2019
- 6.4% on the first portion of your taxable income up to $47,630
- 9% on the next portion over $47,630 up to $95,259
- 10.9% on the next portion over $95,259 up to $147,667
- 12.8% on the next portion over $147,667 up to $500,000
- 15% on the portion of taxable income over $500,000
Yukon Tax Credits
- First Nations Income Tax Credit: This credit is available to people living on Yukon First Nations Settlement Lands of an eligible First Nation. Learn more.
To learn more about the Yukon Tax Credits, please click here.
TurboTax has been serving Canadians since 1993. It is the #1 selling tax preparation software across the country. We have a variety of product options to serve every individual’s needs. Recently added a LIVE service to enable our customers to have access to tax experts at the tip of your fingers. Go ahead and give it a try! Easy to use with a choice of support options to assist you with all your taxation needs.
References & Resources:
Provincial tax brackets
- Alberta Tax Brackets
- British Columbia Tax Brackets
- Manitoba Tax Brackets
- Newfoundland and Labrador Tax Brackets
- New Brunswick Tax Brackets
- Northwest Territories Tax Brackets
- Nova Scotia Tax Brackets
- Nunavut Tax Brackets
- Ontario Tax Brackets
- Prince Edward Island Tax Brackets
- Québec Tax Brackets
- Saskatchewan Tax Brackets
- Yukon Tax Brackets