For the first time ever, Canada’s First Nations must open their financial books publicly.
Among the items required for disclosure - the salaries of chiefs and councillors.
Chief Dennis Meeches of the Long Plain First Nation said his membership has had access to the finances since 1998.
He made $84,000 last year.
"Whether it's government funding or our own corporate-source funding, what it does is builds trust among the membership if we can disclose all the projects, salaries, programs,” said Meeches.
The federal government said First Nations members called for the increased financial transparency.
The Canadian Taxpayers Federation also pushed for the new legislation.
"We heard from a lot of the grass roots living on-reserve that couldn't get this information so they came to us and they wanted help getting it out,” said the CTF’s Colin Craig.
Not everyone is in agreement with the new act.
Buffalo Point First Nation generates revenue through cottage rentals and a golf course.
Chief John Thunder, who took home $129,000 in salary and expenses last year, said the act puts those businesses at a disadvantage.
"As CEO of the Buffalo Point Development Corporation, it is very concerning that my business competition is now privy to information that I would love to get from them,” said Thunder.
Buffalo Point counts a population of 125 members, including 40 who live on-reserve.
David Ledoux took home just over $20,000, plus expenses, for serving as chief of the 257-member Gamblers First Nation.
He said his First Nation does not yet have well-developed business assets and said he will settle for his current compensation until that changes.
"We're in the process of recovery,” said Ledoux. “We've just had our financial officer commend us on how we've saved and he gave us the information we needed to pay our chief and council so we can get out of the trouble we were in."
The federal government said it has not yet received information from all First Nations in Canada.
