This is an official version. Copyright ©2020: Queen's Printer, Important Information
Newfoundland and Labrador NEWFOUNDLAND Low
Income Tax Reduction Regulations for the 2020 Taxation Year (Filed November 19, 2020) Under the authority of sections 21.1 and 68 of the Income Tax Act, 2000 the Lieutenant-Governor in Council makes the following regulations. Dated at St. John's, November 13, 2020. Gary Norris REGULATIONS Analysis 1. Short title 2. Definition 3. Low income tax reduction amounts 4. Repeal 5. Commencement
Short title 1. These regulations may be cited as the Low Income Tax Reduction Regulations for the 2020 Taxation Year. Definition 2. In these regulations, "Act" means the Income Tax Act, 2000. Low income tax reduction amounts 3. For the purposes of the Act, for the 2020 taxation year (a) the amount referred to in paragraph 21.1(2.1)(a) is $859; and (b) the amount referred to in paragraph 21.1(2.1)(b) is $479. Repeal 4. The Low Income Tax Reduction Regulations for the 2019 Taxation Year, Newfoundland and Labrador Regulations 70/19 is repealed. Commencement 5. These regulations are considered to have come into force on January 1, 2020. ©Queen's Printer |