BILL NO. 106
(as introduced)
2nd Session, 60th General Assembly
Nova Scotia
56 Elizabeth II, 2007
Income Tax Act
(amended)
Harold Theriault Jr
Digby–Annapolis
First Reading: December 11, 2007
Second Reading:
Third Reading:
Explanatory Note
This Bill implements an active lifestyle tax credit for seniors.
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 12A the following Section:
12B (1) Subject to subsection (3), for the purpose of computing the tax payable under this Part for a taxation year by an individual there may be deducted in respect of an individual who has attained the age of sixty years before the end of the year an amount determined by the formula
A x B
(a) $500; and
(b) the total of all amounts paid by the individual for eligible recreational and physical activities.
(2) The Governor in Council may make regulations designating eligible recreational and physical activities for the purpose of this Section.
(3) The sums required for the purpose of this Act shall be paid out of moneys appropriated for that purpose by the Legislature.
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2007 Crown in right of Nova Scotia. Created December 11, 2007. Send comments to legc.office@novascotia.ca.
