iCalculator™ CA: Yukon Tax Calculators
Welcome to iCalculator™ CA, your comprehensive suite of free tax calculators for Yukon. iCalculator™ has provided free tax calculators for Yukon since 2014. Since those early days we have extended our resources for Yukon to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Yukon Tax Calculator and salary calculators within our Yukon tax section are based on the latest tax rates published by the Tax Administration in Yukon. In this dedicated Tax Portal for Yukon you can access:
Yukon Tax Calculator 2024/25
The Yukon Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Yukon. This includes calculations for
- Employees in Yukon to calculate their annual salary after tax.
- Employers to calculate their cost of employment for their employees in Yukon.
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Discover the Yukon, Canada
Yukon, located in the far northwest of Canada, is a territory known for its vast wilderness, rugged mountain ranges, and rich historical heritage. It borders the U.S. state of Alaska to the west, the Northwest Territories to the east, found at NT-CA.icalculator.com, and British Columbia to the south, accessible via BC-CA.icalculator.com. This region is famed for the Klondike Gold Rush of the late 19th century, which has shaped much of its cultural identity. The territory's capital, Whitehorse, is a hub of activity set against a backdrop of natural beauty and is home to a diverse population that celebrates its rich indigenous and frontier heritage.
The economy of Yukon is primarily driven by mining, tourism, and renewable resources. Mining remains a cornerstone, with the territory rich in minerals like gold, copper, and zinc. This sector has historically been the mainstay of Yukon's economy and continues to provide significant employment opportunities. Tourism is another vital sector, with the territory's stunning landscapes, rich history, and indigenous cultures attracting visitors from around the world. Yukon's unspoiled natural environment offers unique experiences, from viewing the Northern Lights to exploring the vast wilderness.
Renewable resources, particularly forestry and hydroelectric power, also contribute to Yukon's economy. The territory's vast forests provide resources for a sustainable timber industry, while its rivers and lakes offer potential for hydroelectric power generation. Additionally, Yukon is focusing on developing its technology and research sector, particularly in environmental and natural resource management, reflecting a growing trend towards diversification and sustainability in its economic activities.
Culturally, Yukon is a land of storytelling, with its history, people, and landscapes inspiring numerous tales and legends. The territory celebrates its heritage through festivals, art, and music, with a strong emphasis on indigenous cultures and traditions. Yukon's unique blend of natural beauty, economic opportunities, and cultural richness makes it an intriguing and vital part of Canada’s northern frontier.
Overview of Taxation in the Yukon, Canada
In the Yukon, the tax system includes both federal and provincial taxes. This section on iCalculator™ CA is dedicated to providing an understanding of the provincial taxes specific to the Yukon, offering residents and businesses insight into the various types of provincial taxes, their application, and compliance requirements in this unique Canadian territory.
Provincial Income Tax
The Yukon imposes a provincial income tax on its residents, similar to other Canadian provinces and territories. This tax is applied to income from various sources, including employment, business activities, and investments. Understanding the specifics of provincial income tax is important for residents to ensure accurate tax filings and adherence to territorial tax laws.
No Provincial Sales Tax (PST)
It is important to note that the Yukon does not impose a Provincial Sales Tax (PST). However, the federal Goods and Services Tax (GST) is still applicable in the territory. Understanding the implications of GST is crucial for both consumers and businesses operating in the Yukon.
Corporate Tax
Corporate tax is also an essential component of the Yukon’s tax system. This tax is levied on the profits of corporations operating within the territory. Adherence to corporate tax regulations is important for businesses to contribute responsibly to the territory's economy and comply with tax laws.
Other Provincial Taxes and Levies
In addition to income and corporate taxes, the Yukon administers various other taxes and levies, such as environmental levies and fuel taxes. These taxes are aimed at funding specific public services and initiatives, contributing to the territory's infrastructure and societal welfare.
Compliance with Yukon’s provincial tax laws is a crucial responsibility for both individuals and businesses. The territory provides resources and support to help taxpayers understand their obligations and ensure they fulfill their tax responsibilities accurately and on time. For information on federal tax obligations, additional resources and tools are available on iCalculator™ CA: Yukon.