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Second Session, 45th General Assembly 54 Elizabeth II, 2005 |
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AN ACT TO AMEND THE TOBACCO TAX ACT |
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Received and Read the First Time |
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Second Reading |
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Committee |
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Third Reading |
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Royal Assent |
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HONOURABLE LOYOLA SULLIVAN Minister of Finance and President of Treasury Board |
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Ordered to be printed by the Honourable House of Assembly |
EXPLANATORY NOTE This Bill would amend the Tobacco Tax Act to effect the increase of tax announced by the Minister of Finance in the budget speech.
A BILL AN ACT TO AMEND THE TOBACCO TAX ACT Analysis 1. S.9(1) R&S 2. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: RSNL1990 cT-5 1. Subsection 9(1) of the Tobacco Tax Act is repealed and the following substituted: Rate of tax 9. (1) The tax imposed on tobacco by this Act shall be calculated as follows: (a) in the case of cigarettes, a tax of $0.17 on every cigarette; (b) in the case of tobacco, other than cigarettes and cigars, the tax shall be $0.25 for each gram of tobacco; and (c) in the case of cigars, a tax of 125% of the manufacturers suggested retail price on a cigar, and the tax shall be rounded to the nearest 1/100 of a cent. Commencement 2. This Act is considered to have come into force on March 22, 2005.
©Earl G. Tucker, Queen's Printer |