First Nations will learn a little bit more about how to wade through the world of taxes today.
An Alberta business group is putting on a seminar in Winnipeg for band managers, chiefs and other delegates.
Denis Smith is a partner with Group Mind-Set, the organization that’ s putting on the event, he says keeping tax-exemptions in place and managing workers off-reserve are just some of the issues that will be dealt with.
He adds the complicated subject of income trusts will also be broken down:
“Anything that flows out of an income trust is taxed at the absolute highest rate because it’s stand-alone from any tax-exemption however if’s structured in such a way that the money that flows back from an income trust goes back to a First Nations person or a band or council than that money would then be recaptured as tax-exempt so it just helps to ensure that the maximum revenue coming through trusts that have been set up historically goes back into the reserves.”
He adds some bands have even begun to set up their own tax-codes on reserve in a bid to help their community.
He adds more seminars will be held across the country next year.