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Copyright © 2007: Queen's Printer,
St. John's, Newfoundland and Labrador, Canada

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Newfoundland and Labrador
Regulation 2007


NEWFOUNDLAND AND LABRADOR REGULATION 120/07

NEWFOUNDLAND AND LABRADOR
REGULATION 120/07

Child Benefit Regulations, 2007
under the
Income Tax Act, 2000
(O.C. 2007-482)

(Filed December 5, 2007)

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

Dated at St. John’s, December 3, 2007.

Gary Norris
Clerk of the Executive Council

REGULATIONS

Analysis


        1.   Short title

        2.   Definitions

        3.   Qualified dependent

        4.   Child benefit calculation

        5.   Nutritional supplement benefit

        6.   Benefit reduction calculation

        7.   Indexation

        8.   Repeal

        9.   Commencement


Short title

        1. These regulations may be cited as the Child Benefit Regulations, 2007.

Definitions

        2. In these regulations

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

             (b)  "NLCB" means the Newfoundland and Labrador child benefit as defined in paragraph 38(1)(b) of the Act.

Qualified dependent

        3. A person who is a qualified dependent of an eligible individual on the first day of a month is a qualified dependent of that individual for that month.

Child benefit calculation

        4. The amount of the Newfoundland and Labrador child benefit that applies for a qualified dependent of an eligible individual that is considered to have arisen during a month in relation to which the year is the base taxation year is the amount of NLCB, if it is positive, calculated according to the following formula:

NLCB = 1/12[(A+B+C+D)-E]

where:

           A =  $322 for the first qualified dependent

            B =  $342 for the second qualified dependent

            C =  $367 for the third qualified dependent

           D =  $394 times the number of qualified dependents in excess of 3; and

            E =  the benefit reduction calculated under section 6

Nutritional supplement benefit

        5. An eligible individual who receives on behalf of a qualified dependent the NLCB calculated in accordance with these regulations is entitled to receive, for the 11 month period effective the first of the month following the month during which birth occurred, a supplementary benefit of $60 a month.

Benefit reduction calculation

        6. Where the adjusted income of an eligible individual for a base taxation year, in relation to a month

             (a)  is less than or equal to $17,397, the benefit reduction “E” shall equal zero; and

             (b)  is greater than $17,397, the benefit reduction "E" shall be calculated by multiplying the difference between the adjusted income and $17,397 by

                      (i)  6.44% where there is one qualified dependent,

                     (ii)  13.28% where there are 2 qualified dependents,

                    (iii)  20.62% where there are 3 qualified dependents, and

                    (iv)  the total of 20.62%, and the product obtained by multiplying the number of qualified dependents in excess of 3 by 7.88%.

Indexation

        7. All amounts expressed in dollars in these regulations, except in section 6, shall be indexed in accordance with subsection 6.1(2) of the Act and for that purpose "relevant section" in paragraph 6.1(3)(b) of the Act is considered to include these regulations.

Repeal

        8. The Newfoundland and Labrador Child Benefit Regulations, 2006 No. 2, Newfoundland and Labrador Regulation 83/06, are repealed.

Commencement

        9. These regulations are considered to have come into force on July 1, 2007.