BILL NO. 140
2nd Session, 60th General Assembly
57 Elizabeth II, 2008
Private Member's Bill
Income Tax Act
Halifax Clayton Park
First Reading: April 28, 2008
This Bill provides a tax deduction for the purchase or lease of a fuel-efficient vehicle.
An Act to Amend Chapter 217
of the Revised Statutes, 1989,
the Income Tax Act,
Respecting Fuel-efficient Vehicles
1 Chapter 217 of the Revised Statutes, 1989, the Income Tax Act, is amended by adding immediately after Section 38 the following heading and Section:
(2) Subject to subsections (5) and (7), where in a taxation year a taxpayer purchases, or leases for two years or more, a new or used vehicle exceeding $12,000 in value, the taxpayer may deduct from tax otherwise payable by the taxpayer under this Act for the taxation year
(7) The moneys required for the purpose of this Section must be paid out of moneys appropriated for that purpose by the Legislature and, for greater certainty, no deduction may be made pursuant to this Section until the moneys are appropriated by the Legislature.
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