NEWFOUNDLAND AND LABRADOR REGULATION 69/23

Important Information
(Includes details about the availability of printed and electronic versions of the Statutes.)

NEWFOUNDLAND AND LABRADOR
REGULATION 69/23

Low Income Tax Reduction Regulations for the 2023
Taxation Year
under the
Income Tax Act, 2000
(O.C. 2023-217)

(Filed September 14, 2023)

Under the authority of sections 21.1 and 68 of the Income Tax Act, 2000, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John’s, September 14, 2023.

Krista Quinlan
Clerk of the Executive Council

REGULATIONS

Analysis

1. Short title

2. Definition

3. Low income tax reduction amounts

4. Repeal

5. Commencement

Short title

1. These regulations may be cited as the Low Income Tax Reduction Regulations for the 2023 Taxation Year.

Definition

2. In these regulations, "Act" means the Income Tax Act, 2000.

Low income tax reduction amounts

3. For the purpose of the Act, for the 2023 taxation year

(a) the amount referred to in paragraph 21.1(2.1)(a) is $936; and

(b) the amount referred to in paragraph 21.1(2.1)(b) is $523.

Repeal

4. The Low Income Tax Reduction Regulations for the 2021 and 2022 Taxation Years, Newfoundland and Labrador Regulations 42/22 is repealed.

Commencement

5. These regulations are considered to have come into force on January 1, 2023.