2008 BILL 27

	27


First Session, 46th General Assembly 57 Elizabeth II, 2008
BILL 27
AN ACT TO AMEND THE HEALTH AND POST-SECONDARY EDUCATION TAX ACT
Received and Read the First Time...................................................................................................
Second Reading.................................................................................................................................
Committee............................................................................................................................................
Third Reading.....................................................................................................................................
Royal Assent......................................................................................................................................
HONOURABLE THOMAS W. MARSHALL, Q.C. Minister of Finance and President of Treasury Board
Ordered to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Health and Post-Secondary Education Tax Act.

Clause 1 of the Bill would amend the definition of exemption threshold to exempt the first $1,000,000 of an employer's payroll from a tax under this Act.

Clause 2 of the Bill would bring this Act into force as of January 1, 2008.

A BILL

AN ACT TO AMEND THE HEALTH AND POST-SECONDARY EDUCATION TAX ACT

Analysis

1. S.3 Amdt.
Imposition of tax

2. Commencement

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

RSNL1990 cH-1
as amended

1. Paragraph 3(1)(a.1) of the Health and Post-Secondary Education Tax Act is repealed and the following substituted:

(a.1) "exemption threshold" means

(i) with respect to remuneration paid that is less than or equal to $1,000,000, the amount paid, and

(ii) with respect to remuneration paid that is more than $1,000,000, $1,000,000;

Commencement

2. This Act is considered to have come into force on January 1, 2008.