Caroline Wawzonek
Deputy Premier
Statements in Debates
Thank you, Madam Chair. Madam Chair, on my left is Kelly Bluck, director of fiscal policy from the Department of Finance, and on the right, Cherie Jarock, legislative counsel with the legislation division from the Department of Justice.
Thank you, Madam Chair. I am here to present Bill 16, An Act to Amend the Income Tax Act. The main purpose of Bill 16 is to reduce the tax burden on our small businesses by reducing the small business tax rate from 4 percent down to 2 percent. With this reduction, Northwest Territories small businesses will incur a tax rate of 2 percent on taxable income under $500,000. Any taxable income over $500,000 will continue to be subject to the general corporate tax rate of 11.5 percent. This proposed measure will become effective on January 1, 2021.
We are also taking this opportunity to propose two...
Thank you, Madam Chair.
Thank you, Madam Chair. I agree, that is the kind of debate that should be happening in the House. Again, I will certainly commit to getting some of the details and financial numbers to the House so that that discussion can be brought to the floor.
Thank you, Mr. Speaker. The Government of the Northwest Territories does indeed consult with Indigenous governments, Indigenous organizations at the stage of when there's a call for bids. It is much earlier in the process than where this particular item is at. In this instance, what is relevant here is Section 30 of the new Petroleum Resources Act, which actually says that the Minister shall issue the significant discovery licence if certain conditions are met which, indeed, they are here for Husky. As such, I won't have any discretion in this particular instance. The reason that the...
Mr. Speaker, I would like to take this opportunity to announce the release of Living Well Together, the online Indigenous cultural awareness and sensitivity training program for employees of the Government of the Northwest Territories.
Developed by the Department of Finance in collaboration with the Departments of Education, Culture and Employment and Health and Social Services, Living Well Together replaces the GNWT's previous Aboriginal cultural and sensitivity training for its employees. It is a direct response to the Truth and Reconciliation Commission's call for action with respect to...
I take my responsibilities as a Minister very seriously. I, certainly, am not going to stand and act in anything other than in the interests of the public of the Northwest Territories, but that includes, Mr. Speaker, an understanding and awareness of the rule of law and legal advice that we might receive as Ministers. I don't act on my own. I don't act without advice. I don't act without looking to the department. I don't act without looking to the Department of Justice when the time is appropriate. This was an usual legal problem. I could see that from day one when it came to my desk. We...
It doesn't say a veto. It doesn't say that the party must, shall, but it does say, as may be agreed to. Mr. Speaker, as I had said earlier, when the processes come through, if indeed there are to be new calls for bids, which would then move through exploration licence, significant discovery declarations, and all the way through production, this act now governs that entire evolution. This act will create a system, one that is reasonable, one that is certain, one that people can actually understand what is expected of them, and including the fact that you do now have the ability to make these...
This licence has been subject to significant review from the Department of Justice because of the fact that there was so much that had to come in from the past and into the present. That has been some of the challenge here. I'm not trying to avoid the question. I'm just trying to make sure that I'm not here on the floor of the House getting into something that really has gone through significant legal review, as I've said. I would certainly not expect that there is going to be less fees offered or a freer ride now than what it has been in the past. The significant discovery licence here flows...
As I mentioned earlier, the particular instance here of Husky Oil is one where the call for bids stage took place in 2011-2012 under a pre-devolution regime, under a totally different regime than that which is envisioned by the new Petroleum Resources Act. The new act certainly does give the opportunity at the earlier stage of that call for bids to include rentals and fee structures and opportunities to really increase the possibility for revenue, but again, in this particular instance, we are well past that stage. I would also note that, yes, the new act includes the opportunity for issuing...