33

 


 

Fourth Session, 46th General Assembly

60 Elizabeth II, 2011

BILL 33

AN ACT TO AMEND THE REVENUE ADMINISTRATION ACT NO.2

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

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 (Canada).

A BILL

AN ACT TO AMEND THE REVENUE ADMINISTRATION ACT NO. 2

Analysis


        1.   S.2 Amdt.
Definitions

        2.   S.107 Amdt.
Regulations

        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 Paragraph 2(w) of the Revenue Administration Act is repealed and the following substituted: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.