Acts and Regulations

2015, c.26 - An Act to Amend the Small Business Investor Tax Credit Act

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2015, c.26
An Act to Amend the
Small Business Investor Tax Credit Act
Assented to June 5, 2015
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:
1Subsection 14(4) of the Small Business Investor Tax Credit Act, chapter S-9.05 of the Acts of New Brunswick, 2003, is amended by striking out “30%” and substituting “50%”.
2Paragraph 15(2)(e) of the Act is repealed and the following is substituted:
(e) the aggregate of all entitlements in respect of the eligible investor for all tax credit certificates applied for in the year does not exceed
(i) $125,000 if the eligible investor is an individual, or
(ii) $75,000 if the eligible investor is a corporation or a trust, and
New Brunswick Income Tax Act
3Paragraph 61.1(2)(b) of the New Brunswick Income Tax Act, chapter N-6.001 of the Acts of New Brunswick, 2000, is repealed and the following is substituted:
(b) one of the following amounts:
(i) $125,000 if the eligible investor is an individual, or
(ii) $75,000 if the eligible investor is a corporation or a trust.
4This Act shall be deemed to have come into force on April 1, 2015.