Nunavut Newcomer Finance Guide (2026)

At a glance: Nunavut

Healthcare for newcomers in Nunavut

Nunavut health coverage requires establishing residency. Given remote locations and high costs of living, plan carefully before relocating. Source: gov.nu.ca/health

Source: Nunavut Health Care Plan official site

Provincial income tax in Nunavut

Nunavut territorial income tax ranges from 4% to 11.5% — the lowest in Canada. A Northern Residents Deduction is available on federal taxes for those living in prescribed northern zones.

Federal taxes are the same across all provinces and are filed with CRA. Provincial taxes are filed together with your federal T1 return — you do not file a separate Nunavut return.

Banking in Nunavut

Banking in Nunavut is primarily done through the Bank of Montreal (which has branches in major Nunavut communities) or credit unions. Online banking is essential as branch access is limited.

All Big Six banks — RBC, TD, Scotiabank, BMO, CIBC, and National Bank — have branches in Nunavut. For newcomers without Canadian credit history, we recommend opening a chequing account at a Big Six bank for everyday banking and a KOHO account to immediately start building Canadian credit (no credit check required).

Key provincial benefits in Nunavut

• ✓Northern Residents Deduction (federal)
• ✓Nunavut Cost of Living Credit

These are in addition to federal benefits available to all Canadian residents — GST/HST Credit, Canada Child Benefit (CCB), and Canada Pension Plan (CPP). See our full tax guide to make sure you claim everything you are eligible for.

Top cities for newcomers in Nunavut

Most newcomers to Nunavut settle in these cities for access to jobs, community organizations, and newcomer services.

Your next steps as a newcomer in Nunavut

1. 1

   Get your SIN

   Apply at Service Canada as soon as you arrive. You need it to work, file taxes, and open many financial accounts.

2. 2

   Register for Nunavut Health Care Plan

   Apply immediately upon arrival. There is a 3-month waiting period for new residents — plan accordingly.

3. 3

   Open a Canadian bank account

   Use a newcomer banking program (Scotiabank StartRight, BMO NewStart, or TD New to Canada) for a free first-year account.

4. 4

   Start building Canadian credit

   Get a KOHO credit builder or Capital One Secured card. Canadian credit history is required for mortgages, car loans, and many rentals.

5. 5

   Open a TFSA

   Your most flexible savings tool. Contributions are tax-free. Wealthsimple offers a free TFSA in about 10 minutes.

6. 6

   File your first tax return

   Due April 30. Even if you arrived late in the year, file — you may be eligible for the GST/HST Credit and other benefits.

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