British Columbia Order in Council — Order under Income Tax Effective July 1, 2001, Income Tax (BC Family Bonus) Regulation, BC Reg (O.C. 400/2001)

O.C. 400/2001

British Columbia — Orders in Council

PROVINCE of BRITISH COLUMBIA ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL Order in Council No. 400 , Approved and Ordered MAR 3 Lieutenant Governor Executive Council Chambers, Victoria On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that, effective July 1, 2001 the Income Tax (BC Family Bonus) Regulation, B.C. keg. 231/98, is amended as set out in the attached Schedule. Minister of Finance and Corporat Relations and ;ding Member of the Executive Council Minister Responsible for Northern Development ahis

part is for administrative purposes only and is not part of the Order.) Authority under vshich Order is made: Act and section:- Income. Tax Act, s. 10 Othci . tspecit3, ):- OIC 799/98 March 20. 2001 17/ 6d /2001/16

SCHEDULE I Section 2 (1) the Income Tax (BC Family Bonus) Regulation, B.C. Reg. 231/98, is repealed and the following substituted:

(1) Subject to subsection (2), the amount to be applied under section 10 (3) (

a) of the Act as the BC basic family bonus is the amount calculated as follows: (

a) by calculating the amount determined by the formula [$111 x NJ] -[fi l where N = the number of qualified dependants in respect of whom the person was an eligible individual at the beginning of the applicable month; P = whichever of the following applies, depending on the number of qualified dependants: (

i) if the person was an eligible individual at the beginning of that month in respect of only one qualified dependant, 9% of the amount, if any, by which the person's adjusted income for the base taxation year in relation to the month exceeds $20 500; (ii) if the person was an eligible individual at the beginning of that month in respect of more than one qualified dependant, 18% of the amount, if any, by which the person's adjusted income for the base taxation year in relation to the month exceeds $20 500; (

b) by calculating the amount determined by the formula [c- 12 where C = whichever of the following applies, depending on the number of qualified deper (

i) if the person was an eligible individual at the beginning of that month in respect of only one qualified dependant, $1 209; (ii) if the person was an eligible individual at the beginning of '.hat month in respect of more than one qualified dependant, the total of (A) $1 for the first qualified dependant, (B) $1 for the second qualified dependant, and (C) $949 for each of the third and subsequent qualified dependants, if any; G = whichever of the following applies, depending on the number of qualified dependants: lof 2 (

i) if the person was an eligible individual at the beginning of that month in respect of only one qualified dependant, 12.2% of the amount, if any, by which the person's adjusted income for the base taxation year in relation to the month exceeds $21 744; (ii) if the person was an eligible individual at the beginning of that month in respect of qualified dependants, 22.5% of the amount, if any, by which the person's adjusted income for the base taxation year in relation to the month exceeds $21 744; (iii) if the person was an eligible individual at the beginning of that month in respect of or more qualified dependants, 32.1% of the amount, if any, by which the person's adjusted income for the base taxation year in relation to the month exceeds $21 744; (

c) by subtracting from the amount calculated in accordance with paragraph (a) (

i) the amount calculated in accordance with paragraph (b), or (ii) nil, if the amount calculated in accordance with paragraph (

b) is less than zero.

Document details

Collection	British Columbia — Orders in Council
Citation	O.C. 400/2001
Type	order_in_council
Volume / chapter	arc oic 0400 2001
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	e4205be1ba9e680eb8f60b450cef570cb32a2d6a

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