Acts and Regulations

87-46 - Aviation Turbine Fuel Remission

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Revoked on 27 March 2013
NEW BRUNSWICK
REGULATION 87-46
under the
Financial Administration Act
(O.C. 87-323)
Filed May 11, 1987
Under section 26 of the Financial Administration Act, the Lieutenant-Governor in Council on the recommendation of the Board of Management makes the following Order:
Repealed: 2013-27
1This Order may be cited as the Aviation Turbine Fuel Remission Order - Financial Administration Act.
2(1)In this Order
“Act” means the Income Tax Act;
“export price” means the price charged under the authority of and in accordance with a licence by a licensee for the aviation turbine fuel covered by the licence;
“Federal Act” means the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, as amended;
“licence” means a licence issued by the National Energy Board under Part VI of the National Energy Board Act, chapter N-6 of the Revised Statutes of Canada, 1970, as amended, for the exportation of aviation turbine fuel;
“licensee” means a person authorized under a licence to export aviation turbine fuel;
“normal price” means
(a) the price that would have been charged at any particular time by a licensee, having regard to the price that was actually charged at that time by the licensee for aviation turbine fuel used on flights within Canada, for aviation turbine fuel covered by a licence if the licence had not contained a condition as to the price for such fuel, or
(b) with respect to aviation turbine fuel purchased by a person from a licensee, such amount as may be agreed upon by the person and the licensee.
2(2)Subject to subsection (1), all words and expressions used in this Order have the same meaning as in the Federal Act.
3Subject to section 4, remission is granted to a taxpayer with respect to a taxation year that includes any part of the period commencing February 1, 1982 and ending April 30, 1983 of the amount by which the taxes, interest and penalties payable by the taxpayer under the Act for the year exceed the taxes, interest and penalties that would have been payable by the taxpayer under the Act for the year if the Federal Act had been read for the year without reference to subsection 69(7.1).
4Remission is granted to a taxpayer under section 3 on the condition that, with respect to aviation turbine fuel for which the taxpayer was deemed to have received proceeds of disposition under subsection 69(7.1) of the Federal Act, the taxpayer
(a) reimburse to the purchaser of the fuel all amounts that can reasonably be considered to relate to the excess, if any, of the export price over the normal price for the fuel and that have been paid by the purchaser, and
(b) forego any action to recover any such amounts that have not been paid by the purchaser.
N.B. This Regulation is consolidated to March 27, 2013.