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Fourth
Session, 46th General Assembly 60
Elizabeth II, 2011 |
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AN ACT TO AMEND THE
REVENUE ADMINISTRATION ACT NO.2 |
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Received and Read the First Time................................................................................................... |
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Second |
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Committee............................................................................................................................................ |
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Third |
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Royal Assent...................................................................................................................................... |
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HONOURABLE
THOMAS W. MARSHALL, Q.C. Minister of Finance and President of Treasury Board |
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Ordered
to be printed by the Honourable House of Assembly |
EXPLANATORY NOTES Clauses 1 and 3 of the Bill would amend the Revenue Administration Act to increase the payroll tax exemption threshold from $1,000,000 to $1,200,000, effective January 1, 2011. Clause 2 of the Bill would amend the Revenue Administration Act to authorize
the Lieutenant-Governor in Council to make regulations respecting a refund,
rebate or reimbursement of an amount equal to a tax paid, in whole or in part,
by a recipient under Part IX of the Excise
Tax Act ( |
A BILL AN ACT TO AMEND THE REVENUE ADMINISTRATION ACT NO. 2 Analysis 1.
S.2 Amdt. 2. S.107 Amdt. 3. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: SNL2009 cR-15.01 as amended 1. Paragraph 2(w) of the Revenue Administration Act is repealed and the following substituted: (w) "exemption threshold" means, with respect to remuneration paid, $1,200,000; 2. Section 107 of the Act is amended by adding immediately after paragraph (f) the following: (f.1) respecting a refund, rebate or reimbursement of an amount equal to a tax paid, in whole or in part, by a recipient under Part IX of the Excise Tax Act (Canada); Commencement 3. Section 1 of this Act is considered to have come into force on January 1, 2011. ©William E. Parsons, Queen's Printer |