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2014, c.33
- An Act to Amend the Financial Corporation Capital Tax Act
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2014, c.33
An Act to Amend the
Financial Corporation Capital Tax Act
Assented to May 21, 2014
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:
1
Section 2 of the Financial Corporation Capital Tax Act, chapter F-11.1 of the Acts of New Brunswick, 1987, is amended
(
a
)
by repealing paragraph (1)(a);
(
b
)
by repealing subsection (3).
2
The Act is amended by adding after section 4 the following:
4.1
For the purposes of this Act, the Minister may deem the fiscal year of a financial corporation to have ended on the day immediately before the day on which the financial corporation concludes any transaction or series of transactions that results in a sale, transfer or other disposition of more that 50% of its total assets.
3
Subsection 6(4) of the Act is repealed.
4
Paragraph 11(a) of the Act is repealed and the following is substituted:
(
a
)
file with the Minister a financial corporation capital tax return for the fiscal year on a form provided by the Minister, and
5
Paragraph 12(a) of the Act is repealed and the following is substituted:
(
a
)
file a financial corporation capital tax return on a form provided by the Minister
(i
)
covering any fiscal year indicated by the Minister, and
(ii
)
including any information required by the Minister, and
6
Sections 4 and 5 of this Act come into force on a day or days to be fixed by proclamation.
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