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

Mountainview

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

Just Posted

Yukon First Nation Education Directorate members Bill Bennett, community engagement coordinator and Mobile Therapeutic Unit team lead, left, and Katherine Alexander, director of policy and analytics, speak to the News about the Mobile Therapeutic Unit that will provide education and health support to students in the communities. (yfned.ca)
Mobile Therapeutic Unit will bring education, health support to Indigenous rural students

The mobile unit will begin travelling to communities in the coming weeks

Premier Sandy Silver, left, and Chief Medical Officer of Health Dr. Brendan Hanley, speak during a live stream in Whitehorse on January 20, about the new swish and gargle COVID-19 tests. (Crystal Schick/Yukon News)
Swish and spit COVID-19 test now available in Yukon

Vaccination efforts continue in Whitehorse and smaller communities in the territory

Local poet Joanna Lilley is photographed at the Beringia Centre in Whitehorse on Jan. 20, where she will be hosting a poetry workshop on Jan. 24. (Crystal Schick/Yukon News)
Poetry for the ages

Workshop set for the Yukon Beringia Centre

President Joe Biden signs executive orders after speaking about the coronavirus, accompanied by Vice President Kamala Harris in the State Dinning Room of the White House on Jan. 21, in Washington, D.C. The administration announced plans Jan. 20 for a temporary moratorium on oil and gas leasing in Alaska’s Arctic National Wildlife Refuge after the Trump administration issued leases in a part of the refuge considered sacred by the Gwich’in. (Alex Brandon/AP)
U.S. President Joe Biden halts oil and gas lease sales in ANWR

“Its great to have an ally in the White House”

Parking attendant Const. Ouellet puts a parking ticket on the windshield of a vehicle in downtown Whitehorse on Dec. 6, 2018. The City of Whitehorse is hoping to write of nearly $300,000 in outstanding fees, bylaw fines and court fees, $20,225 of which is attributed to parking fines issued to non-Yukon license plates. (Crystal Schick/Yukon News file)
City of Whitehorse could write off nearly $300,000

The City of Whitehorse could write off $294,345 in outstanding fees, bylaw… Continue reading

Grants available to address gender-based violence

Organizations could receive up to $200,000

In this illustration, artist-journalist Charles Fripp reveals the human side of tragedy on the Stikine trail to the Klondike in 1898. A man chases his partner around the tent with an axe, while a third man follows, attempting to intervene. (The Daily Graphic/July 27, 1898)
History Hunter: Charles Fripp — gold rush artist

The Alaskan coastal town of Wrangell was ill-equipped for the tide of… Continue reading

A man walks passed the polling place sign at city hall in Whitehorse on Oct. 18, 2018. While Whitehorse Mayor Dan Curtis is now setting his sights on the upcoming territorial election, other members of council are still pondering their election plans for the coming year. (Crystal Schick/Yukon News file)
Councillors undecided on election plans

Municipal vote set for Oct. 21

Whitehorse City Hall. (Joel Krahn/Yukon News file)
City hall, briefly

A look at decicions made by Whitehorse city council this week.

A file photo of grizzly bear along the highway outside Dawson City. Yukon conservation officers euthanized a grizzly bear Jan. 15 that was originally sighted near Braeburn. (Alistair Maitland/Yukon News file)
Male grizzly euthanized near Braeburn

Yukon conservation officers have euthanized a grizzly bear that was originally sighted… Continue reading

Mayor Dan Curtis listens to a councillor on the phone during a city council meeting in Whitehorse on April 14, 2020. Curtis announced Jan. 14 that he intends to seek nomination to be the Yukon Liberal candidate for Whitehorse Centre in the 2021 territorial election. (Crystal Schick/Yukon News)
Whitehorse mayor seeking nomination for territorial election

Whitehorse mayor Dan Curtis is preparing for a run in the upcoming… Continue reading

Gerard Redinger was charged under the <em>Civil Emergency Measures Act</em> with failing to self-isolate and failing to transit through the Yukon in under 24 hours. (Joel Krahn/Yukon News file)
Man ticketed $1,150 at Wolf Creek campground for failing to self-isolate

Gerard Redinger signed a 24-hour transit declaration, ticketed 13 days later

Most Read