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NEWFOUNDLAND

AND LABRDOR

REGULATION 25/97

Motor Vehicle Arbitration Plan Retail Sales Tax Remission Order

under the

Financial Administration Act

(O.C. 97-022)

(Filed February 25, 1997)

Under the authority of

section 19 of the Financial Administration Act

, the Lieutenant-Governor in Council makes the following Order.

Dated at St. John's

, February 4, 1997.

A. Faour

Deputy Clerk of the Executive Council

ORDER

Analysis

Short title

Definitions

Remission granted

Application of Order

Short title

This Order may be cited as the Motor Vehicle Arbitration Plan Retail Sales Tax Remission Order.

25/97 s1

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Definitions

In this Order

(a)

"Act" means the Retail Sales Tax Act;

and

(b)

"buy back award" means a remedy granted to the taxpayer by an arbitrator under the Canadian Motor Vehicle Arbitration Plan.

25/97 s2

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Remission granted

(1) Remission of tax is granted to a taxpayer who

(

a) has paid the taxes payable under the Act; and

(

b) has been granted a buy back award.

(2) The remission shall be the product of the amount of the buy back award divided by the gross purchase price times the amount of tax paid.

25/97 s3

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Application of Order

The remission shall apply to buy back awards granted commencing September 1, 1994.

25/97 s4

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