â–º Listen Live
HomeNewsGNWT drops 10% withholding tax on $750 EIDS payments, residents still required...

GNWT drops 10% withholding tax on $750 EIDS payments, residents still required to declare payments on 2023 tax returns

The GNWT has adjusted the Evacuee Income Disruption Support (EIDS) program, dropping the tax deduction for the $750 one-time payment. 

Starting immediately, eligible residents will receive the full payment without any withholding tax. 

Initially, EIDS recipients saw a 10% tax on their payments, meaning residents received $675 instead of the full $750. According to the GNWT, residents who previously received a $675 payment will soon receive an additional $75 payment. 

Despite the initial tax drop, the GNWT says all EIDS payments remain taxable and anyone who receives the $750 will be issued a T4A slip and must declare the money on their 2023 tax returns. 

- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading

All