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Second
Session, 46th General Assembly 58
Elizabeth II, 2009 |
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AN ACT TO AMEND THE
LABOUR-SPONSORED |
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Received and Read the First Time................................................................................................... |
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Second |
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Committee............................................................................................................................................ |
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Third |
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Royal Assent...................................................................................................................................... |
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HONOURABLE
JEROME P. KENNEDY, Q.C. Minister of Finance and President of Treasury Board |
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Ordered
to be printed by the Honourable House of Assembly |
EXPLANATORY NOTES This Bill would amend the Labour-Sponsored Venture Capital Tax Credit
Act to increase the provincial tax credit rate for eligible investors who
invest in a labour-sponsored venture capital corporation effective This Bill would also amend the Act to increase the maximum annual investment for which a tax credit would be available to eligible investors for investment in eligible shares, commencing with the 2009 taxation year. |
A BILL AN ACT TO AMEND THE LABOUR-SPONSORED VENTURE CAPITAL TAX CREDIT ACT Analysis 1.
S.8 Amdt. 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 (2) Paragraph 8(2)(d) of the Act is repealed and the following substituted: (d) the aggregate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 (2) Subsection 1(2) of this Act is considered to
have come into force on ŠEarl G. Tucker, Queen's Printer |