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Newfoundland Regulation 1998 Retail Sales Tax Regulations (Amendment) (Filed
October 6, 1998) Under the
authority of section 52 of the Retail
Sales Tax Act, the Lieutenant-Governor in Council makes the following
regulations. Dated at John R.
Cummings, Q.C. REGULATIONS Analysis 1. S.2
Amdt. 2. S.7
R&S 3. Commencement CNR 1155/96 1. Section 2 of the Retail Sales Tax Regulations is amended by adding immediately after
paragraph (b) the following: (a.1) "acquisition"
includes purchasing, leasing or bringing into the province for consumption or
use and all derivatives of this term; 2. Section 7 of the regulations is repealed and
the following substituted: 7. Where a vehicle is acquired in the province and is disposed of within 7
days of its acquisition, the first acquisition shall be considered to be for
the purpose of resale and tax paid upon the first acquisition may be refunded
by the minister upon receipt of evidence satisfactory to him or her that the
tax should be refunded. Valuation 7.1 (1) For the purpose of subsection 8(2) of the Act, the purchase price or
the fair or true value of a vehicle shall be considered to be the greater of
the (a) actual
purchase price; or (b) current
average wholesale value for that vehicle published in an appraisal or valuation
guide approved by the minister. (2) Notwithstanding
subsection (1) and for the purposes of subsection 8(2) of the Act, where the
actual price of a vehicle is less than the price referred to in paragraph
(1)(b), the purchase price or the fair or true value of that vehicle shall be
that actual price if, at the time when the tax is payable, the consumer
provides to the collector of the tax an affidavit in the required form made by
the consumer and the seller of the vehicle under oath or affirmation, before a
justice of the peace or a commissioner for oaths and confirming the actual
price paid by the consumer for the vehicle. (3) For
the purposes of subsection (2), where (a) an
appraisal or valuation guide for the type of vehicle under consideration does
not exist or has not been approved by the minister; or (b) a
vehicle which is required to be registered under the Highway Traffic Act cannot be registered under that Act because of
its construction or condition, the purchase
price or the fair or true value of the vehicle may be determined by a method
that the minister considers appropriate. (4) Notwithstanding
subsections (1) and (2), where the difference between the actual price under
paragraph (1)(a) and the valued price under paragraph (1)(b) is less than a
proportion or an amount which the minister may determine, the purchase price of
the vehicle for the purpose of subsection 8(2) of the Act shall be the actual
purchase price. (5) Where
a person is found guilty of an offence under section 76 of the Act and that
offence relates to an affidavit made under this section, the purchase price or
the fair or true value of a vehicle which is the subject of the affidavit shall
be the value calculated under paragraph (1)(b). Motor vehicle appraisal 7.2 (1) Notwithstanding section 7.1, for the purpose of subsection 8(2) of
the Act, a consumer may obtain, at his or her own expense, a written appraisal
from an approved appraiser. (2) Where
a consumer provides to the collector of the tax a written appraisal for a
vehicle from an approved appraiser, the purchase price, fair or true value of
that vehicle shall be the greater of the actual purchase price or the appraised
value, provided that the vehicle is appraised within a time which the minister
considers to be reasonable. (3) The
minister may approve persons as appraisers of vehicles for the purpose of this
section. (4) For
the purposes of this section, "approved appraiser" means a person who
is qualified to appraise vehicles and who is approved by the minister for the
purpose of this section. Commencement 3. These regulations shall come into force on ©Earl G. Tucker, Queen's Printer |