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Newfoundland and Labrador
Regulation 2018


NEWFOUNDLAND AND LABRADOR REGULATION 64/18

NEWFOUNDLAND AND LABRADOR
REGULATION 64/18

Interactive Digital Media Tax Credit Regulations (Amendment)
under the
Income Tax Act , 2000
(O.C.2018 - 162)

(Filed August 16, 2018)

Under the authority of section 46.3 of the Income Tax Act, 2000, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John's, August 16, 2018.

Ann Marie Hann
Clerk of the Executive Council

REGULATIONS

Analysis


        1.   S.2 Amdt.
Definitions

        2.   S.9 Amdt.
Tax credit certificate

        3.   Commencement


NLR 84/15

        1. Paragraph 2(d) of the Interactive Digital Media Tax Credit Regulations is repealed and the following substituted:

             (d)  "eligible employee" means an employee of an eligible corporation who

                      (i)  was resident in the province on the last day of the calendar year immediately before the year in which his or her salary was earned; or

                     (ii)  was not resident in the province on the last day of the calendar year immediately before the year in which his or her salary was earned but was resident in the province on the last day of the calendar year in which his or her salary was earned;

 

        2. (1) Paragraph 9(1)(a) of the regulations is repealed and the following substituted:

             (a)  applies in the form and manner that the minister requires within 18 months of the end of the taxation year;

             (2)  Section 9 of the regulations is amended by adding immediately after subsection (3) the following:

             (4)  Notwithstanding paragraph (1)(a), the minister may issue a tax credit certificate under subsection (1) to an eligible corporation who applied for a certificate of registration under section 8 before October 13, 2016.

 

        3. These regulations are considered to have come into force on January 1, 2015.