Time for our fair share

Time for our fair share I read with interest the Yukon Chamber of Mines' response to the Yukon New Democrats' plan to use our fair share of Yukon resources to build a Yukon Resource Legacy Fund. I've worked with the mining industry. I've served as an ex-

I read with interest the Yukon Chamber of Mines’ response to the Yukon New Democrats’ plan to use our fair share of Yukon resources to build a Yukon Resource Legacy Fund.

I’ve worked with the mining industry. I’ve served as an ex-officio member of the Yukon Chamber of Mines in my role as the president of the Whitehorse Chamber of Commerce.

The industry spokesperson is suggesting the mining industry in the Yukon is taxed at a larger rate than the rest of Canada, and therefore deserves the astounding breaks we offer on placer gold and hardrock mineral royalties.

They claim royalties, like 37.5 cents on an $1,800 ounce of placer gold and a sliding-scale royalty rate based on profit on hardrock mines Ð that we’ve never collected on Ð are reasonable.

On the issue of taxation rates, Natural Resources Canada has comparison information for anyone who takes the time to look. The net combined Federal/Territorial Corporate Income Tax Rate in the Yukon is 33 per cent Ð lower than the Atlantic provinces, and nearly on par with Manitoba, Nunavut and the Northwest Territories.

However, this doesn’t show the entire picture.

Yukon’s mining industry also enjoys no capital taxes, a 100 per cent tax deduction on exploration, a 100 per cent deduction on development and additional deductions at the Mines minister’s discretion on milling and processing allowance caps.

In addition, all taxes on mining, smelting, and refining profits are deductible Ð plus the operation and maintenance costs.

To recap, companies get a 100 per cent break on exploration, 100 per cent break on development, and get further breaks on operation, mining, smelting and refining Ð meaning that while the combined tax rate may be moderately high, mining companies receive incredible breaks and deductions that the average Yukon household can only dream of.

All of these elements need to be taken into account when separating the wheat from the chaff Ð or in our case Ð the gold from the gravel, when deciphering any material from the Yukon Chamber of Mines.

A Yukon New Democrat government will continue the Mining Incentives Program that a previous NDP government instituted to help the mining industry recover costs from exploration and development. Yukon New Democrats continue to support a responsible, competitive mining industry, just as we did then.

However, unlike the other parties, we are also proposing a reasonable, responsible consultation with industry about mining royalties. Like Liz Hanson said when announcing the Yukon Resource Legacy Fund, “reasonable people will find reasonable solutions.” The other parties seem very keen to promise millions of dollars in new spending, but only the Yukon New Democrats have a sustainable plan to pay for new spending with a reasonable royalty increase.

The Selkirk First Nation and the Minto Mine have achieved what the rest of the Yukon can only imagine at this point with their net smelter royalty, which paid $5.9 million to the citizens of the Selkirk First Nation.

I’m willing to bet that Yukoners agree that it’s time the rest of the Yukon received our fair share.

Stephen Dunbar-Edge, NDP candidate


Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Dawson City RCMP are reporting a break and enter on Feb. 25 after two masked men entered a residence, assaulted a man inside with a weapon and departed. (Black Press file)
Two men arrested after Dawson City home invasion

Dawson City RCMP are reporting a break and enter on Feb. 25.… Continue reading

Highways and Public Works Minister Richard Mostyn speaks to reporters at a news conference in Whitehorse on Dec. 21, 2017. New ATIPP laws are coming into effect April 1. (Chris Windeyer/Yukon News file)
New access to information laws will take effect April 1

“Our government remains committed to government openness and accountability.”

City council meeting in Whitehorse on Feb. 8. At Whitehorse city council’s March 1 meeting, members were presented with a bylaw that would repeal 10 bylaws deemed to be redundant or out of date. (Crystal Schick/Yukon News file)
Out with the old

Council considers repealing outdated bylaws

A bobcat is used to help clear snow in downtown Whitehorse on Nov. 4. According to Environment Canada, the Yukon has experienced record-breaking precipitation this year. (Crystal Schick/Yukon News file)
Yukon will have “delayed spring” after heavy winter snowfall

After record levels of precipitation, cold spring will delay melt

Yukon RCMP say they’ve received three reports of youth being extorted online. (Black Press file)
Yukon youth being extorted online

Yukon RCMP say they’ve received three reports of youth being extorted on… Continue reading

A man walks passed the polling place sign at city hall in Whitehorse on Oct. 18, 2018. The City of Whitehorse is preparing for a pandemic-era election this October with a number of measures proposed to address COVID-19 restrictions. (Crystal Schick/Yukon News file)
City gets set for Oct. 21 municipal election

Elections procedures bylaw comes forward

A rendering of the Normandy Manor seniors housing facility. (Photo courtesy KBC Developments)
Work on seniors housing project moves forward

Funding announced for Normandy Manor

Tom Ullyett, pictured, is the first Yukoner to receive the Louis St-Laurent Award of Excellence from the Canadian Bar Association for his work as a community builder and mentor in the territory. (Gabrielle Plonka/Yukon News)
Tom Ullyett wins lifetime achievement award from the Canadian Bar Association

Ullyett has worked in the Yukon’s justice ecosystem for 36 years as a public sector lawyer and mentor

The Blood Ties outreach van will now run seven nights a week, thanks to a boost in government funding. Logan Godin, coordinator, and Jesse Whelen, harm reduction counsellor, are seen here on May 12, 2020. (Crystal Schick/Yukon News file)
Blood Ties outreach van running seven nights a week with funding boost

The Yukon government is ramping up overdose response, considering safe supply plan

Ranj Pillai speaks to media about business relief programs in Whitehorse on April 1, 2020. The Yukon government announced Feb.25 that it will extend business support programs until September. (Crystal Schick/Yukon News)
Government extends business relief programs to September, launches new loan

“It really gives folks some help with supporting their business with cash flow.”

Whitehorse City Hall. (Joel Krahn/Yukon News file)
A look at decisions made by Whitehorse City Council this week

Bylaw amendment Whitehorse city council is moving closer with changes to a… Continue reading

Susie Rogan is a veteran musher with 14 years of racing experience and Yukon Journey organizer. (Yukon Journey Facebook)
Yukon Journey mushers begin 255-mile race

Eleven mushers are participating in the race from Pelly Crossing to Whitehorse

Legislative assembly on the last day of the fall sitting in Whitehorse on Nov. 22, 2018. As the legislature prepares to return on March 4, the three parties are continuing to finalize candidates in the territory’s 19 ridings. (Crystal Schick/Yukon News file)
Nine new candidates confirmed in Yukon ridings

It has been a busy two weeks as the parties try to firm up candidates

Most Read