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Newfoundland and Labrador
Child and Parental Benefits Regulations (Amendment) (Filed June 21, 2011) Under the authority of section 68 of the Income Tax Act, 2000, the Lieutenant-Governor in Council makes the following regulations. Dated at Robert Thompson REGULATIONS Analysis 1.
S.7 R&S 2. Commencement NLR 43/09 1. Section 7 of the Child and Parental Benefits Regulations is repealed and the following substituted: Benefit reduction calculation 7. 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) 5.07% where there is one qualified dependent, (ii) 10.45% where there are 2 qualified dependents, (iii) 16.22% where there are 3 qualified dependents, and (iv) the total of 16.22%, and the product obtained by multiplying the number of qualified dependents in excess of 3 by 6.19%. Commencement 2. This regulation comes into force on July 1, 2011. ©Queen's Printer |