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Legislative Assembly of New Brunswick
Status of Legislation - First Reading Bill
An Act to Amend the New Brunswick Income Tax Act
 
Legislature :
54
Session :
5
Bill No. :
42
Member :
Hon. Mesheau
First Reading :
2003-3-19
Second Reading :
2003-3-20
Committee of the Whole :
2003-3-25
Amended :
Third Reading :
2003-3-26
Royal Assent :
2003-4-11
Download PDF :
  Bill 42         
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Text of Bill :
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:



1                              Subsection 61(2) of the New Brunswick Income Tax Act, chapter N-6.001 of the Acts of New Brunswick, 2000, is amended



(a)               in paragraph (a) by striking out "$100" and substituting "$200";



(b)               by repealing paragraph (b) and substituting the following:



(b)               $150 plus 50% of the amount by which the aggregate exceeds $200 if the aggregate exceeds $200 and does not exceed $550, or



(c)               in subparagraph (c)(i) by striking out "$300" and substituting "$325".



2                           This Act shall be deemed to have come into force on January 1, 2002.



EXPLANATORY NOTES



Section 1



(a) to (c) The existing provision is as follows:



61(2)               There may be deducted from the tax otherwise payable under this Part by a taxpayer who is an individual or a corporation for a taxation year in respect of the aggregate of all amounts, each of which is the amount of a contribution of money made by the taxpayer in a year to a registered political party, a registered district association or a registered independent candidate,



(a)               75% of the aggregate if the aggregate does not exceed $100,



(b)               $75 plus 50% of the amount by which the aggregate exceeds $100 if the aggregate exceeds $100 and does not exceed $550, or



(c)                the lesser of



(i)         $300 plus 33 1/3% of the amount by which the aggregate exceeds $550 if the aggregate exceeds $550, and



(ii)       $500,



if each contribution that is included in the aggregate is proven by filing with the Minister a receipt signed by the official representative of the registered political party, registered district association or registered independent candidate, as the case may be.



Section 2



Commencement provision.

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Legend
* Private Bill
** Bill referred to Standing Committee on Law Amendments
+ Private Member's Public Bill
++ Motion for second reading defeated
+++ Debate at second reading adjourned
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