5012-PC Information Sheet for Residents of the Northwest Territories

All the information you need to calculate your Northwest Territories tax and credits is included on the following pages. We have included two copies of Form T1C (N.W.T.), Northwest Territories Tax and Credits. Attach a completed copy to your return.

What's new for 1998?

The Northwest Territories Investment Tax Credit Program allows individuals a credit against Northwest Territories tax of up to 30% of investments made, to a maximum of $100,000 of eligible shares annually.

Questions about Northwest Territories tax and credits

If you have questions about the Northwest Territories tax credits, contact:

If you have any other questions, including questions about Northwest Territories tax, contact your Revenue Canada tax services office. You can find the address and telephone numbers listed under "Revenue Canada" in the Government of Canada section of your telephone book.

Northwest Territories Child Benefit

The Northwest Territories Child Benefit (NWTCB) is a tax-free monthly payment made to qualifying families with children under age 18. The Territorial Worker's Supplement, part of the NWTCB program, is an additional benefit paid to qualifying families with working income who have children under age 18. Benefits from these programs are combined with the Canada Child Tax Benefit into a single monthly payment.

Under the NWTCB, you may be entitled to receive a basic benefit of $27.50 a month for each child under age 18. Families who have earned income of more than $3,750 may also get the Territorial Worker's Supplement of up to $22.91 a month for one child, and up to $29.16 a month for two or more children.

Your benefits under these programs will be reduced if your family net income is more than $20,921. For a one-child family, your benefits are reduced by 3% of the amount that your family net income is more than $20,921. For families with two or more children, your benefits are reduced by 5%.

There is no need to apply separately to receive payments under these programs. Revenue Canada will use the information from the Canada Child Tax Benefit application to determine your eligibility for the program. You (and your spouse) should file your 1998 return(s) as soon as possible. The information you (and your spouse) submit on your return(s) will determine how much you will receive starting in July 1999.

The program is an initiative of, and is fully funded by, the Northwest Territories. For more information, call 1-800-387-1193.