Bill 204 — An Act To Amend the Alberta Income Tax Act Dr. Buck (Legislature 20, Session 2)

L20 S2 3570

Alberta — Bills

1984 BILL Second Session, 20th Legislature, 33 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 204

AN ACT TO AMEND THE ALBERTA INCOME TAX ACT DR. BUCK First Reading Second Reading Committee of the Whole Third Reading Royal Assent

BiU 204 Dr. Buck BILL 204 1984

AN ACT TO AMEND THE ALBERTA INCOME TAX ACT (Assented to , 1984) 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

Section 3 is amended in subsection (3) (

a) in clause (

d) by striking out ", 1978, 1979, 1980, 1981, 1982 and 1983" and substituting "and subsequent"; (

b) by repealing clause (e). 3

Section 11(3.1) is amended in clause (

a) by striking out "43.5%" and substituting "38.5%".

Explanatory Notes 1 This Bill will amend

chapter A-31 of the Revised Statutes of Alberta 1980. 2

Section 3(

d) and (

e) presendy read:

(3) For the purposes of this section, the percentage of the tax payable under the federal Act to be used for computing the tax payable under this

section is (d) 38.5% in respect of the 1977, 1978, 1979, 1980, 1981, 1982 and 1983 taxation years; (e) 43.5% in respect of the 1984 and subsequent taxation years. 3

Section ll(3.1)(

a) presendy reads:

(3.1) For the 1984 and subsequent taxation years, an individual is entided, subject to this

section and the regu lations, to a royalty tax rebate in respect of a taxation year in an amount equal to the lesser of (

a) the product obtained when the proportion of the sum of his attributed Canadian royalty income for the year and his attributed Canadian royalty income carry forward from the immediately preceding taxation year that

Section 11(7) is amended in clause (a)(vi)(

A) by striking out "43.5%" and substituting "38.5%". In accordance with

section 4(1) of the Interpre tation Act, this Bill comes into force on the date it receives Royal Assent.

(

i) his resource income eamed in Alberta for the year as determined in accordance with

Part XXVI of the federal regulations is of (ii) his total resource income for the year is multiplied by 43.5% of his federal basic tax rate for the year, and

Section ll(7)(a)(vi)(

A) presendy reads:

(7) When there is a tax otherwise payable under this Act by a taxpayer for a taxation year, the attributed Canadian royalty income carried forward to the immediately succeeding taxation year is (

a) in the case of an individual, the quotient obtained when (iv) in the case ofthe 1984 and subsequent taxation years, the product of (A) 43.5% of his basic federal rate, and Title: 1984 (20th, 2nd) Bill 204,

An Act to Amend the Alberta Income Tax Act

Document details

Collection	Alberta — Bills
Citation	L20 S2 3570
Type	bill
Volume / chapter	L20 S2 3570
Language	en
Format	json
Source	PROVINCIAL
Identifier	71b91a85bb279e01fb26c01725a3f10f5f644e17

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