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St. John's, Newfoundland and Labrador, Canada

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Statutes of Newfoundland and Labrador 2009


CHAPTER 4

AN ACT TO AMEND THE LABOUR-SPONSORED VENTURE CAPITAL TAX CREDIT ACT

(Assented to May 28, 2009)

Analysis


        1.   S.8 Amdt.
Tax credit certificate

        2.   Commencement


Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

SNL2004 cL-1.1

        1. (1) Paragraph 8(1)(a) of the Labour-Sponsored Venture Capital Tax Credit Act is amended by striking out the number and symbol "15%" and substituting the number and symbol "20%".

             (2)  Paragraph 8(2)(d) of the Act is repealed and the following substituted:

             (d)  the aggregate investment in eligible shares, for which entitlements to tax credit certificates the eligible investor has applied for in the year, does not exceed $10,000;

Commencement

        2. (1) Subsection 1(1) of this Act is considered to have come into force on April 1, 2009.

             (2)  Subsection 1(2) of this Act is considered to have come into force on January 1, 2009.