First

Session, 49th General Assembly

Elizabeth II, 2019

BILL 1

AN ACT TO AMEND THE REVENUE

ADMINISTRATION ACT

Received

and Read the First Time ................................................................

Second

Reading ............................................................................................

Committee .....................................................................................................

Third

Reading ...............................................................................................

Royal

Assent .................................................................................................

HONOURABLE TOM

OSBORNE

Minister of Finance

and President of Treasury Board

Ordered to be printed by

the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Revenue Administration Act to remove the

provision specifically relating to retail sales tax applied to premiums for

automobile insurance.

A BILL

AN ACT TO AMEND THE REVENUE ADMINISTRATION

ACT

Analysis

S.91.1

Tax on insurance premiums

Commencement

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

SNL2009 cR-15.01

as amended

(1) Subsection 91.1(1.1) of the Revenue Administration Act is repealed.

(2) Subsection 91.1(10) of the Act is repealed and

the following substituted:

(10) A person who enters into, amends or renews a

contract of insurance referred to in subsection (1) is required to pay the tax

imposed under this

section whether or not the insurer or insurer's agent is

registered under this Part, and that person shall remit the tax in the manner

referred to in subsection (7).

(3) Subsection 91.1(12) of the Act is repealed.

Commencement

2. This Act is considered to have come into force

on April 15, 2019.

Queen's Printer