This is an official version. Copyright ©2022: Queen's Printer, Important Information
Newfoundland and Labrador NEWFOUNDLAND AND LABRADOR Low
Income Tax Reduction Regulations for the 2021 and 2022 (Filed July 28, 2022) Under the authority of sections 21.1 and 68 of the Income Tax Act, 2000, the Lieutenant-Governor in Council makes the following regulations. Dated at St. John’s, July 26, 2022. Krista Quinlan REGULATIONS Analysis 1. Short title 2. Definition 3. Low income tax reduction amounts 4. Repeal 5. Commencement Short title 1. These regulations may be cited as the Low Income Tax Reduction Regulations for the 2021 and 2022 Taxation Years. Definition 2. In these regulations, "Act" means the Income Tax Act, 2000. Low income tax reduction amounts 3. For the purpose of the Act, (a) for the 2021 taxation year (i) the amount referred to in paragraph 21.1(2.1)(a) is $862; and (ii) the amount referred to in paragraph 21.1(2.1)(b) is $481; and (b) for the 2022 taxation year (i) the amount referred to in paragraph 21.1(2.1)(a) is $886; and (ii) the amount referred to in paragraph 21.1(2.1)(b) is $494. Repeal 4. The Low Income Tax Reduction Regulations for the
2020 Taxation Year, Newfoundland and Labrador Regulations 85/20 is
repealed. Commencement 5. (1) These
regulations, except for paragraph 3(b), are considered to have come into force
on January 1, 2021. (2) Paragraph
3(b) is considered to have come into force on January 1, 2022. ©Queen's Printer |