Newfoundland and Labrador Regulations 2006

Short title

1. These regulations may be cited as the Home Heating Fuel Tax Credit Regulations, 2006.

Definitions

2. In these regulations

(a) "Act" means the Income Tax Act, 2000;

(b) "adjusted income" has the meaning assigned to it under subsection 122.5(1) of the federal Act;

(d) "eligible householder" means an individual who has an adjusted income of $30,000 or less for the previous taxation year;

(e) "home" means an individual's principal dwelling place and self contained living unit consisting of 2 or more rooms in which individuals reside and usually sleep and prepare and serve meals for their own consumption;

(f) "home heating fuel" means a petroleum product used for heating a home; and

(g) "qualified relation" has the meaning assigned to it under subsection 122.5(1) of the federal Act.

Home heating fuel overpayment refund

3. (1) Where an eligible householder or his or her spouse has purchased home heating fuel as the primary source of fuel to heat his or her home during the period extending from July 1, 2005 until March 31, 2006 and applies to the department that eligible householder shall be considered to have made an overpayment of tax in the amount set out in section 4 and the minister shall refund the amount of that overpayment to that householder.

(2) An application made to the department for a refund under this section shall be in the form and contain the information required by the Minister of Finance of the province and shall be accompanied by an invoice or other document that he or she considers to be satisfactory that indicates that the purchase of home heating fuel was made by the eligible householder or his or her spouse.

(3) Where the department receives an application under this section from an individual who is not an eligible householder and that application is co-signed by his or her spouse who is an eligible householder, the application shall be considered to have been made by the spouse who is the eligible householder.

Benefit reduction calculation

4. (1) Where an eligible householder's adjusted income is $22,500 or less, the amount of the overpayment of tax referred to in subsection 3(1) shall be $400.

(2) Where an eligible householder's adjusted income is more than $22,500 but is $30,000 or less, the amount of the overpayment of tax referred to in subsection 3(1) shall be the greater of

(a) $400 minus ((adjusted income minus $22,500) X 5.33%); and

(b) $100.

One overpayment per home

5. (1) Where more than one individual who resides in a home may qualify for an overpayment of tax refund under these regulations, only one of those individuals may apply for and receive that refund.

(2) Where, notwithstanding subsection (1), more than one eligible householder of a home applies for a refund section 3, the minister may, in his or her discretion, determine which eligible householder is to receive the overpayment of tax amount under these regulations.

Application of subsection 38(6) of Act

6. Subsection 38(6) of the Act shall apply to an amount considered to be an overpayment of a tax under these regulations.

NLR 14/01 Rep

7. The Home Heating Fuel Tax Credit Regulations, Newfoundland and Labrador Regulations 14/01, are repealed.

Commencement

8. These regulations shall be considered to have come into force on October 21, 2005.