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Fifth Session, 44th General Assembly 52 Elizabeth II, 2003 |
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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 JOAN MARIE AYLWARD 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 provide for an increase in tax on cigarettes and loose tobacco as announced by the Minister of Finance on budget day.
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 Subsection 9(1) of the Tobacco Tax Act is repealed and the following substituted: Rate of tax 9.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 $0.15 on every cigarette; (b) in the case of tobacco, other than cigarettes and cigars, the tax shall be $0.15 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 28, 2003.
©Earl G. Tucker, Queen's Printer |