Four First Nations Added to Fiscal Act

Summary#

The Order Amending the Schedule to the First Nations Fiscal Management Act adds Esk’etemc, Gitanmaax, Mississaugas of the Credit and Poundmaker to the list of First Nations covered by the First Nations Fiscal Management Act. The order was registered on November 21, 2024 and comes into force on that day; it puts those First Nations in a position to use the Act’s financial and taxation tools if they choose.

What it does#

• Adds the names of Esk’etemc, Gitanmaax, Mississaugas of the Credit and Poundmaker to the schedule to the First Nations Fiscal Management Act.
• Lets those First Nations access services offered through the Act’s national institutions, including the First Nations Finance Authority, the First Nations Tax Commission and the First Nations Financial Management Board.
• Gives those First Nations the option to:
  • set up a property tax system under the Act (as an alternative to the existing property-tax option in section 83 of the Indian Act);
  • seek certification of their financial performance and management systems; and
  • apply to use a First Nations bond financing regime, using property tax or other revenue streams as security.
• The order was made at the request of the First Nations’ councils and was registered by the federal government on November 21, 2024.

Who's affected#

• Members and leaders of Esk’etemc, Gitanmaax, Mississaugas of the Credit and Poundmaker — these communities now have access to the Act’s options.
• The three national institutions named above, which will work with these First Nations if they choose to proceed.
• Other First Nations considering joining the Act may notice similar administrative steps, but this order itself only concerns the four named communities.

Why it matters#

• It gives the listed First Nations new tools to raise local revenue, improve financial management and borrow for community projects. That can help pay for housing, roads, water systems or economic development on reserve.
• Joining the Act is optional. Adding a name to the schedule does not force any new taxes or actions on a community — it simply makes the options available.
• The government’s analysis says there are no direct costs to Canada from adding names to the schedule, and the change follows requests from the communities themselves.