BILL NO. 248
(as introduced)
1st Session, 59th General Assembly
Nova Scotia
54 Elizabeth II, 2005
Income Tax Act
(amended)
Darrell Dexter
Cole Harbour
First Reading: October 19, 2005
Second Reading:
Third Reading:
Explanatory Note
This Bill requires the Minister of Finance to establish, on or before January 1, 2006, a fish harvesters tax credit.
An Act to Amend Chapter 217
of the Revised Statutes, 1989,
the Income Tax Act
1 Chapter 217 of the Revised Statutes, 1989, the Income Tax Act, is amended by adding immediately after Section 49 the following heading and Section:
49A (1) Subject to subsection (3), on or before January 1, 2006, the Minister of Finance shall establish a fish harvesters tax credit equal in value to the tax benefits available to farmers under Section 53.
(2) The Governor in Council may make regulations
(a) respecting the assets of a fish harvester that qualify for the purpose of the tax credit;
(b) defining any word or expression used but not defined in this Section;
(c) respecting any matter or thing the Governor in Council considers necessary or advisable to carry out effectively the intent and purpose of this Section.
(3) The sums required for the purpose of this Section shall be paid out of money appropriated by the Legislature for that purpose.
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2005 Crown in right of Nova Scotia. Created October 19, 2005. Send comments to legc.office@novascotia.ca.
