Steps to Becoming an Accountant in the Yukon Territory
The Yukon Territory has no territorial sales tax, no government debt, and a competitive tax regime. The local government also spends more money on capital projects than any other territory or province in Canada. Yukon’s Department of Economic Development works to foster business and investment in the territory, encouraging business development through many incentive programs. Some of these include the Yukon Small Business Investment Tax Credit program, which reduces income tax for investors who are eligible, and the Yukon Venture Loan Guarantee Program, which aids new and expanding businesses.
The Government of Canada’s, Working in Canada web resource, projects a fair outlook for accountants in the Yukon Territory in the next decade. However, employment is expected to increase as baby boomers reach retirement age and more accounting vacancies become available.
Accountants in the Yukon Territory generally have four-year college degrees before they enter the field. Some may choose to become certified with a credentialing body such as the Certified General Accountants’ Association of Yukon or the Institute of Chartered Accountants of the Yukon Territory. Well-recognized accounting firms such as BDO Canada, LLP and MacKay, LLP have offices in Whitehorse. Employment opportunities also exist in private industry, in federal and territorial government, and within academia.
Top industries in the Yukon Territory include mining, oil and gas, technology, and tourism. There is a place for accountants within all of these industries, as all companies need accountants to track spending and revenue. Mining companies such as New Pacific Metals Corporation in Tagish and Silvercorp Metals, Inc. in Whitehorse employ cost and capital accountants, budget analysts, and managerial accountants. Oil and gas companies in the Yukon recognized as leading employers of accountants include AMEC in Goose Bay and TransCanada in Whitehorse.
Technology and communications company, Northwestel, located in Whitehorse, and industrial products distributor, Northern Industrial Sales in Watson Lake, also employ accountants in various capacities throughout their organizations.
The financial services and banking industry also employs accountants with specialized credentials in such organizations as CIBC in Dawson, as well as Citi and Royal Bank of Canada, both in Whitehorse.
Yukon Territory Accountants: Salary and Employment Facts
The Government of Canada reported the average yearly salary for accountants in the Yukon Territory to be $27 per hour, or $56,160 per year in their 2009 report. In the 2006 Yukon census, public administration employed the majority of residents at 4,145. Business, finance, and administrative positions were held by 3,045 Yukon residents. Most accounting positions would be classified within one of these two this occupational categories.