As Canadian North's Manager, Sales & Community Investments, West Samantha Stuart looks on at left, Yellowknife Deputy Mayor Stacie Arden Smith, Industry Tourism & Investment Minister Caroline Wawzonek, Canadian North President & CEO Michael Rodyniuk, and NWT Tourism CEO Donna Lee Demarke cut a ribbon at the airport Tuesday morning to celebrate the start of Canadian North's daily direct jet service between Yellowknife and Calgary. 

Photo by James O'Connor 

New CRA overdue rate of high interest to procrastinators

New Income Tax Regulations will impact Canadian taxpayers in different ways.

McLennan Ross Legal Counsel notes the Overdue Rate is unsurprisingly the highest interest rate, currently at 8% (having gone up from 5% over the last three quarters). So, if an individual or corporate entity is late on payments to the CRA, they will owe interest at 8% until fully paid.

Further, this interest is compounded daily starting the balance due date meaning a taxpayer pays significant interest on interest, not merely the outstanding debt multiplied by 108%. This makes it more important than ever that taxpayers remit their payments on time.

Interest on late payments is now a much more significant cost to taxpayers.

Stats show 'extraordinary recovery' for working women since pandemic lows

The latest Statistics Canada national jobs report provided more proof of a trend that's been taking shape over the past year: women are flooding back into the workforce.

The Financial Post noted the number of women aged 25 to 54 in the workforce grew by 51,000 in January, pushing their rate of employment upup 0.5 percentage points to 82.2 per cent, Statistics Canada says.

That's the highest rate since 1976 and up 2.1 percentage points from the same month a year ago, reported Victoria Wells, senior editor, Financial Post, and FP Work editor.

But it's women with young kids who are really jumping into the labour pool. The employment rate for mothers with children under the age of six grew to 76.6 per cent from 72.9 per cent. On average, 75.2 per cent of women with young kids had jobs, up 3.3 percentage points since 2019, Statistics Canada says.

Those figures mark an extraordinary recovery for working women, whose ranks at the start of the COVID-19 pandemic plummeted to depths not seen in decades.

More affordable daycare, increased availability of flexible work hours and work from home are cited as some of the reasons for the change.

Trade Show returns to Fort Smith after three-year absence

The 15th Annual Thebacha Trade Show will be held Saturday, April 29, in the Fort Smith Centennial Arena. 

“We would like to take this opportunity to thank you for your past participation,” says Linda Martin, GM of Thebacha Business Development Services. “It’s been a long three years since the last show."

Artisans and retail sales of goods and services are welcomed at the trade show. 

More information and the registration package can be found here.

Mayor Rebecca Alty swears in the 2023 Yellowknife Chamber of Commerce board today at the organization's annual AGM held at the Explorer Hotel. Pictured is incoming President Adrian Bell and now Past President Sandra MacKenzie. Bell has been the YK Chamber's rep on the NWT Chamber of Commerce board, whose AGM is April 13 (notice to be issued to members next week).

Photo by James O'Connor

POLLING THE CHAMBER

Topic: Family Day?

Education, Culture and Employment Minister R.J. Simpson said this week the Employment Standards Act is up for review this year, and could see the “potential establishment of a holiday" in February called Family Day.

AND THE SURVEY SAYS

Do you agree with Premier Caroline Cochrane’s prediction that her 19th Assembly will leave the NWT be better positioned for a brighter future?

• YES 24%
• NO 76%

SOCIAL POST OF THE WEEK:

NORTHERN QUOTES OF THE WEEK:

"It’s making it almost impossible to survive in the North."

— Bob Zimmer, the official Opposition critic for the North, told NNSL about carbon tax increase.

"I think this is going to be a difficult one for us to accept, however it is the right thing to do. There is a new green age that is now upon us and we are seeing the impacts of climate change first hand and it is costing a lot of money.”

— NWT MP Michael McLeod, in same NNSL story, on territorians giving up oil, adding:

"I’m totally convinced that we can’t sit on our hands anymore. I am totally convinced there are huge concerns coming. We are starting to see a lot of effects of climate change and we are really going to be challenged in the next while."

The next NWT Chamber Board Meeting is March 15 at 11am in-person or Zoom

THE NWT CHAMBER SINCERELY THANKS

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Inquire with the NWT Chamber's Executive Director about sponsorship and newsletter advertising opportunities. We also offer limited numbers of EBlasts to members each month and promoted social media posts can be arranged.

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