Third Session, 44th General Assembly

50 Elizabeth II, 2001

BILL 28

AN ACT TO AMEND THE HEALTH AND POST-SECONDARY EDUCATION TAX ACT

Received and Read the First Time

Second Reading

Committee

Third Reading

Royal Assent

HONOURABLE JOAN MARIE AYLWARD

Minister of Finance and President of Treasury Board

Ordered to be printed by the Honourable House of Assembly

EXPLANATORY NOTE

This Bill would amend the Health and Post-Secondary Education Tax Act to increase the remuneration threshold above which tax is imposed to $500,000. For the balance of the 2001 taxation year the threshold would be $475,000.

A BILL

AN ACT TO AMEND THE HEALTH AND POST-SECONDARY EDUCATION TAX ACT

Analysis

1. S.3 Amdt.

Imposition of tax

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

RSN1990 cH-1

as amended

1. Subparagraph 3(1)(d)(

i) of the Health and Post-Secondary Education Tax Act is repealed and the following substituted:

(

i) with respect to the taxation year beginning on January 1, 2001, remuneration paid in excess of the first $475,000, and with respect to each year following, in excess of the first $500,000 of remuneration, or

©Earl G. Tucker, Queen's Printer