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Newfoundland and Labrador NEWFOUNDLAND AND LABRADOR Seniors' Benefit Regulations, 2007 (Amendment) (Filed September 21, 2010) 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, September 3, 2010. Gary Norris REGULATIONS Analysis 1.
S.3 Amdt. 2.
S.4 Amdt. NLR 119/07 1. Paragraphs 3(1)(a) and (b) of the Seniors' Benefit Regulations, 2007 are repealed and the following substituted: (a) where there is no qualified relation, $900 for an eligible individual who is 64 years of age or over at any time in the taxation year, reduced by 11.66% of the amount by which the eligible individual's adjusted income for the taxation year exceeds $26, 165; and (b) where there is a qualified relation, $900 for one eligible individual who is 64 years of age or over any time in the taxation year, reduced by 11.66% of the amount by which the combined adjusted income for the eligible individual and qualified relation for the taxation year exceeds $26, 165. 2. Section 4 of the regulations is amended by renumbering it as subsection 4(1) and by adding immediately after that subsection the following: (2) Notwithstanding subsection (1), indexation required by that subsection shall not be carried out before the 2011 taxation year. ©Earl G. Tucker, Queen's Printer |