Bill No. 34, the Technical Amendments (Finance) Act 2023, received assent today in the Yukon Legislative Assembly.
This Act amends the following legislation: the Yukon’s Income Tax Act, Yukon Government Carbon Price Rebate Act and Financial Administration Act.
Technical amendment acts are designed to make sure that the Yukon’s legislation is consistent with federal laws and other statutes in the territory, meets current operational needs and practices and is free from errors or unclear wording.
The Technical Amendments (Finance) Act 2023 brings the three pieces of legislation covered up to date and means they can be administered more effectively. The changes are technical in nature and will not have a financial impact on taxpayers.
Technical amendments are a routine part of government but still play a key role in serving Yukoners by keeping our legislation current, consistent and easy to understand. Passing this Bill keeps our legislation relevant and comprehensible.
Minister of Finance Sandy Silver
Amendments to the Income Tax Act ensure that it reflects the federal Income Tax Act, clarifies certain cases, adds references to federal legislation, corrects the French translation and clarifies certain elements of the Government of Yukon’s carbon rebate.
Amendments to the Financial Administration Act repeal funds that are no longer in use and replace a reference to outdated legislation.