Bill 255 (Legislature 19, Session 3)

L19 S3 4019

Alberta — Bills

1981 BILL Third Session, 19th Legislature, 30 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL

AN ACT TO AMEND THE ALBERTA INCOME TAX ACT MR. D. ANDERSON Firs t Reading Second Reading Committee of the Whole Third Reading Royal Assent Title: 1981 (19th, 3rd) Bill 255,

An Act to Amend the Alberta Income Tax Act Bill Mr. D. Anderson BILL

AN ACT TO AMEND THE ALBERTA INCOME TAX ACT (Assented to , 1981) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Alberta Income Tax Act is amended by this Act. 2 The following is added after

section 8.7: 8.8(1) In this

section (a) “employee stock ownership plan” means a plan or trust that conforms to the definition set by the regulations, (b) “qualifying corporation” means a corporation that has an employee stock ownership plan.

(2) There may be deducted from the tax otherwise payable under this Act, by an individual, for and subsequent taxation years, 5% of the dividends from a qualifying corporation included in his income by virtue of section 82(1) of the federal Act. 3 This Act comes into force on a date to be fixed by Proclamation. 1 Explanatory Notes This Bill will amend

chapter of the Revised Statutes of Alberta, 1970. 2 Adds a new

section to allow a tax credit of 5% of dividends from corporations that operate an employee stock ownership plan or trust. 3 Coming into force. 1 Title: 1981 (19th, 3rd) Bill 255,

An Act to Amend the Alberta Income Tax Act

Document details

Collection	Alberta — Bills
Citation	L19 S3 4019
Type	bill
Volume / chapter	L19 S3 4019
Language	en
Format	json
Source	PROVINCIAL
Identifier	1f995e8e044d10bf13c9db5b3550e44978aba91d

Source file is stored in the law ingest library (json).