Yukon's first income tax bracket is just 6.4% — one of the lowest in all of Canada. Combined with the Northern Residents Deduction and no provincial sales tax, Yukoners keep significantly more of their income than most Canadians.
Get KOHO Free — No Monthly Fees →In Yukon Territory, branch banking can be limited, unreliable, or require long drives. KOHO is 100% online — manage your money from your phone with 3% interest on every dollar, zero monthly fees, and a Visa card accepted everywhere. No branch needed, ever. The referral code 45ET55JSYA unlocks free account activation.
EQ Bank offers 3.75% — the highest insured savings rate for Yukon Territory residents — with CDIC deposit protection and no monthly fees. Northern residents saving for a home purchase in a larger centre, early retirement, or emergency fund benefit greatly from EQ Bank's compound interest advantage over traditional big bank rates of 0.01%.
After receiving a tax refund — common in Yukon due to the Northern Residents Deduction — EQ Bank's 3.75% savings rate is ideal for growing that refund while you decide how to deploy it. KOHO's 3% is also excellent for parking savings throughout the year.
TD Canada Trust provides consistent national banking services for Yukon Territory residents, with reliable online and mobile banking. TD waives monthly fees for Canadian Armed Forces members — relevant in many northern communities with federal government and military presence. TD's national ATM network ensures access across Canada when travelling south.
RBC is Canada's largest bank by assets and offers the broadest mortgage product suite for Yukon Territory property purchases. Northern homes are often priced at a premium due to construction costs and limited supply, making RBC's large-balance mortgage capacity and wealth management services valuable for Yukon Territory property buyers.
Scotiabank rounds out the top tier for Yukon Territory residents seeking a traditional big bank with Scene+ rewards (Cineplex, Sobeys). Scotia's consistent northern banking presence and broad product range make it a solid full-service option for residents who want a national bank relationship.
In Yukon Territory, branch banking is limited or non-existent. KOHO is 100% online — no branches needed, no monthly fees, full banking control from your phone wherever you are. Whether you're in a remote fly-in community or a small northern city, KOHO works everywhere Visa is accepted.
Get KOHO Free — Code 45ET55JSYA| Bank | Savings Rate | Monthly Fee | Deposit Insurance | Best For |
|---|---|---|---|---|
| KOHO | 3.00% | $0 | CDIC (Peoples Bank) | Northern remote banking |
| EQ Bank | 3.75% | $0 | CDIC | High-balance savings |
| Local CU / CIBC North | 0.5–2% | $0–$12 | Varies | Community banking |
| TD | 0.01% | $10.95–$29.95 | CDIC | CAF/federal workers |
| RBC | 0.01% | $11.95–$30 | CDIC | Mortgages & wealth |
| Scotiabank | 0.01% | $10.95–$30.95 | CDIC | Scene+ rewards |
Yukon offers one of the best tax environments in Canada. The territorial income tax first bracket is just 6.4% — but the real advantage is the stacking of benefits: no territorial sales tax (PST/HST is 5% federal GST only), the Northern Residents Deduction (up to $24.40/day for Zone A residents, reducing taxable income by $8,906/year for full-year residents), and a territorial income tax credit system that further reduces effective tax rates. A Whitehorse government worker earning $95,000 pays less combined federal+territorial income tax than a comparable worker in Ontario — even though Yukon salaries are often higher to compensate for cost of living.
Estimate your combined federal + Yukon territorial income tax for 2026.
Yukon's territorial income tax first bracket is 6.4% on income up to $57,375 — one of Canada's lowest. The second bracket is 9.0% (to $114,750), third is 10.9% (to $500,000), and the top rate is 15.0% above $500,000.
Yukon residents in Zone A qualify for the Northern Residents Deduction of approximately $8,906/year (based on $24.40/day for 365 days). This reduces your taxable income before calculating both federal and territorial tax — providing roughly $569–$971 in actual tax savings depending on your bracket.
No. Yukon has no territorial sales tax of any kind. Only the 5% federal GST applies to most goods and services in Yukon — compared to 13% HST in Ontario or 12% in BC (5% GST + 7% PST).
At $90,000 income, a Yukon worker pays approximately $3,000–$4,500 less in total income taxes than an Ontario worker at the same income, due to lower territorial rates and the Northern Residents Deduction. This tax advantage, combined with no PST, makes Yukon's effective tax burden one of the lowest in Canada for working professionals.
KOHO pays 3% on your entire balance with zero monthly fees — perfect for remote Yukon residents. Use code 45ET55JSYA to get started free.
Get KOHO Free — Code 45ET55JSYADisclaimer: Interest rates and fees current as of March 2026. KOHO interest earned on eligible balances with active account; terms apply. CDIC insures eligible deposits up to $100,000 per depositor per category at federally chartered member institutions. Yukon Territory has no territorial land transfer tax; closing cost figures are estimates — consult a local real estate lawyer for exact figures. Bremo earns a referral commission if you sign up for KOHO using our link — this does not affect our rankings.