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2013-76
- Harmonized Sales Tax Act
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NEW BRUNSWICK
REGULATION 2013-76
under the
Harmonized Sales Tax Act
(O.C. 2013-345)
Filed November 13, 2013
1
Section 17 of New Brunswick Regulation 97-28 under the Harmonized Sales Tax Act is amended
(
a
)
by repealing the definition “wholesale price” and substituting the following:
“wholesale price”
means the wholesale price provided for in section 17.2.
(prix de gros)
(
b
)
by adding the following definition in alphabetical order:
“antique vehicle”
means antique vehicle as defined in section 1 of the
Motor Vehicle Act
;
(ancien modèle)
2
The Regulation is amended by adding after section 17.1 the following:
Wholesale price
17.2
(1)
Subject to subsections (2) and (3), the wholesale price of a vehicle is the wholesale price as listed in a trade publication acceptable to the Commissioner.
17.2
(2)
If the make and model of a vehicle are not listed in a trade publication because they are too recent, the wholesale price of the vehicle shall be determined as follows:
A + (0.15 × A)
2
where
2
A
is the most recent value for a similar make and model of the vehicle listed in a trade publication.
17.2
(3)
If the make and model of a vehicle are not listed in a trade publication because they are too old but the vehicle is not an antique vehicle, the wholesale price of the vehicle is the greater of
(
a
)
$500, and
(
b
)
the amount determined as follows:
B – Y(0.10 × B)
where
B
is the most recent value for a similar make and model of the vehicle listed in a trade publication;
Y
is the number of years between the model year of the vehicle and the model year of the similar make and model of the vehicle.
3
Section 18 of the Regulation is amended
(
a
)
in subsection (0.1) of the French version by striking out “agréée” and substituting
“autorisé”
;
(
b
)
in subsection (2) by adding after paragraph (c) the following:
(
c.1
)
the make and model of a vehicle are not listed in a trade publication acceptable to the Commissioner and no similar make and model are listed in a trade publication acceptable to the Commissioner;
(
c
)
by adding after subsection (6) the following:
18
(6.1)
The fair value of an antique vehicle for the purposes of taxation under Part V of the Act is the greater of
(
a
)
the purchase price of the vehicle, and
(
b
)
the insured value of the vehicle.
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