Fiscal Relations
The cash settlement (Capital Transfer) is around $140 million. This money will compensate Kitselas for our outstanding Land Claims and broken promises under historic laws and agreements.
Kitselas will also receive several million dollars each year for new programs and governance costs. This additional ongoing funding is in addition to the money we receive now for programs and services.
Trust Funds
Similar to the Nisga’a and other Treaty nations, monies from the Treaty Settlement Funds will be deposited in trusts to generate annual interest payments, which can be used for the benefit of the people (new or expanded programs), community (major projects like the new Hall), and Nation (land purchase to expand Treaty Settlement Lands).
From the $140 million, we could generate approximately $6 million per year of interest through low-risk investments. These annual interest payments could be available to support the ongoing process of strengthening our people, culture, and communities, including economic development. Trusts, as required by the Kitselas Constitution, will ensure Treaty Settlement Funds support the long-term benefit of the Nation and our people, including future generations of Kitselas Citizens.
Taxes
Over time, collecting taxes (property, sales, business, and income) from businesses and non-Kitselas Members residing within or operating businesses on Kitselas Lands will be an important source of revenue, which will support new or expanded programs and services for our community.
With the Treaty, tax exemptions on Indian Reserves will continue forever. Tax exemptions will not extend to Kitselas Lands outside of the Indian Reserves.
Treaty Information Sessions About Fiscal Relations
FAQs About Fiscal Relations
Q: How much will Kitselas receive in the cash settlement (capital transfer)?
A: Yes, Kitselas will receive funding for all programs and services we continue to receive now, plus additional money each year to support new programs and governance costs.
A: A trust is a legal relationship between Kitselas and the organization we appoint to accept the responsibility for following the rules of the trust (the Trustees). Trusts are designed to protect and provide long-term benefits for the Nation (the Beneficiary). Only Kitselas will benefit from any money or other assets held by the trust.
A: Businesses and non-Kitselas Members residing on or operating businesses on Kitselas Treaty Settlement Lands will be subject to property, sales, business, and income taxes.
A: Yes, current tax exemptions on Indian Reserves will continue forever; however, tax exemptions will not apply to Kitselas Treaty Settlement Lands outside of the current Kitselas Indian Reserves.
A: Businesses and non-Kitselas Members residing on or operating businesses on Kitselas Lands will be subject to property, sales, business, and income taxes.