This is an official version.
Copyright © 2003: Queens Printer,
Statutes of Newfoundland and Labrador 2003
AN ACT TO AMEND THE HEALTH AND POST-SECONDARY EDUCATION TAX ACT
(Assented to May 15, 2003)
1. S.3(1) Amdt.
Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:
1. (1) Subsection 3(1) of the Health and Post-Secondary Education Tax Act is amended by adding immediately after paragraph (a) the following:
(a.1) "exemption threshold" means
(i) with respect to remuneration paid that is $600,000 or less, $600,000,
(ii) with respect to remuneration paid that is more than $600,000 but less than $700,000, $600,000 minus (remuneration - $600,000), and
(iii) with respect to remuneration paid that is $700,000 or more, $500,000;
(2) Subparagraph 3(1)(d)(i) is repealed and the following substituted:
(i) with respect to the taxation year beginning on January 1, 2003, remuneration less the exemption threshold, or
©Earl G. Tucker, Queen's Printer