Bill 4: An Act to Amend the Income Tax Act

This bill primarily affects individual Nunavut residents who receive the Nunavut Child Benefit rather than businesses directly. However, payroll administrators, tax preparers, and accountants working in Nunavut who handle benefit calculations or assist residents with tax filings will need to update their calculations to reflect the new dollar amounts and the annual CPI indexing formula. Small accounting or bookkeeping operations serving Nunavut families — whether solo practitioners or small firms — will need to track the updated benefit thresholds each year going forward. The change is relatively straightforward for tax professionals but requires attention to the new base figures and the transitional amounts prescribed for the 2026 base taxation year.