Bill No. 61 of A BILL TO AMEND ITHE ALBERTA CORPORATION INCOME TAX ACT NOTE This Bill amends The Alberta Corporation Inc01ne Tax Act, being

chapter of the Statutes of Alberta, 1947. A new subsection (2a) is added to

section 44. The new subsection provides that if in the opinion of the Provincial Treasurer a corporation is attempting to avoid payment of taxes the Provincial Treasurer may direct that all taxes, penalties and interest be paid forthwith upon assessment. Subsection (1) of

section is amended. This amend­ ment allows the immediate certification of an amount where in the opinion of the Provincial Treasurer a corporation is attempting to avoid payment of taxes. This Bill comes into force upon 'assent. J. W. RYAN, Acting Legislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.) BILL No. 61 of

An Act to timend The Alberta Corporation Income Tax Act (Assented to , 1954) HER MAJESTY, by and with the advice and consent o·C the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Alberta Corporation Income Tax Act, being chap­ ter of the Statutes of Alberta, 1947, is hereby amended. 2.

Section is amended by adding immediately after SediOt d44 subsection (2) the following new subse,ction: amen e "(2a) Where, in the opinion of the Provincial Treasurer, a corporation is attempting to avoid payment of taxes, the Provincial Treasurer may direct that all taxes, penalties and interest be paid forthwith upon assessment.". 3.

(1) Section iR amended by st:!'iking out ~ub-

Section section (1) and by substituting the following: amended "51.

(1) An amount payable under this Act that has Certificate not been paid or such part of an amount payable under this Act as has not been paid may be certified by the Pro- vincial Treasurer " (

a) where there has been a direction by the Provincial Treasurer under subsection (2a) of

section 44, forthwith after such direction, and H (

b) otherwise, upon the expiration of thirty days after the default.".

(2) This

section is applicable from the coming into force of this Act to all amounts payable under The Alberta Corporation Income Tax Act. 4 This Act comes into force on the day upon which it Coming into • • force IS assented to. No. 61 SECOND SESSION TWELFfH LEGISLATURE ELIZABETH II BILL

An Act to amend The Alberta Corporation Income Tax Act Received and read the First time ......................................... . Second time ....................................... . Third time ......................................... . HON. MR. MANNING Title: 1954 (12th, 2nd) Bill 61,

An Act to amend The Alberta Corporation Income Tax Act