Fourth

Session, 46th General Assembly

Elizabeth II, 2011

BILL 33

AN ACT TO AMEND THE

REVENUE ADMINISTRATION ACT NO.2

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

Second Reading .................................................................................................................................

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

Third Reading .....................................................................................................................................

Royal Assent ......................................................................................................................................

HONOURABLE

THOMAS W. MARSHALL, Q.C.

Minister of Finance and President of Treasury Board

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

Clauses 1 and 3 of the Bill would

amend the Revenue Administration Act

to increase the payroll tax exemption threshold from $1,000,000 to $1,200,000,

effective January 1, 2011.

Clause 2 of the Bill would amend the Revenue Administration Act to authorize

the Lieutenant-Governor in Council to make regulations respecting a refund,

rebate or reimbursement of an amount equal to a tax paid, in whole or in part,

by a recipient under

Part IX of the Excise

Tax Act ( Canada ).

A BILL

AN ACT TO AMEND THE REVENUE ADMINISTRATION

ACT NO. 2

Analysis

S.2 Amdt.

Definitions

2. S.107 Amdt.

Regulations

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. Paragraph 2(

w) of the Revenue Administration Act is repealed and the following

substituted:

(w) "exemption threshold" means, with

respect to remuneration paid, $1,200,000;

Section 107 of the Act is amended by adding

immediately after paragraph (

f) the following:

(f.1) respecting a refund, rebate or reimbursement

of an amount equal to a tax paid, in whole or in part, by a recipient under

Part IX of the Excise Tax Act

(Canada);

Commencement

Section 1 of this Act is considered to have

come into force on January 1, 2011.

William E. Parsons, Queen's Printer