Acts and Regulations

2018, c.11 - Climate Change Act

Section 6
Disposition versions

Full text
Transfer to the Fund of part of the net revenue from the gasoline tax and the diesel fuel tax
Repealed: 2019, c.1, s.3
2019, c.1, s.3
6Repealed: 2019, c.1, s.4
2019, c.1, s.4
Transfer to the Fund of part of the net revenue from the gasoline tax and the diesel fuel tax
6(1)After collection of the gasoline tax, the Minister of Finance shall without delay transfer into the Fund
(a) for the fiscal year beginning on April 1, 2018, 2.33/15.5 of the net revenue from the gasoline tax;
(b) for the fiscal year beginning on April 1, 2019, 4.65/15.5 of the net revenue from the gasoline tax;
(c) for the fiscal year beginning on April 1, 2020, 6.98/15.5 of the net revenue from the gasoline tax;
(d) for the fiscal year beginning on April 1, 2021, 9.31/15.5 of the net revenue from the gasoline tax; and
(e) for the fiscal year beginning on April 1, 2022, and subsequent fiscal years, 11.64/15.5 of the net revenue from the gasoline tax.
6(2)For the purposes of subsection (1), the net revenue from the gasoline tax is determined in accordance with the following formula:
A - (B + C)
where
A  is the revenue from the gasoline tax,
B  is the amount of gasoline tax refunds, and
C  is the revenue from the gasoline tax that is shared pursuant to an agreement made under section 11.1 of the Revenue Administration Act.
6(3)After collection of the diesel fuel tax, the Minister of Finance shall without delay transfer into the Fund
(a) for the fiscal year beginning on April 1, 2018, 2.76/21.5 of the net revenue from the diesel fuel tax;
(b) for the fiscal year beginning on April 1, 2019, 5.51/21.5 of the net revenue from the diesel fuel tax;
(c) for the fiscal year beginning on April 1, 2020, 8.27/21.5 of the net revenue from the diesel fuel tax;
(d) for the fiscal year beginning on April 1, 2021, 11.03/21.5 of the net revenue from the diesel fuel tax; and
(e) for the fiscal year beginning on April 1, 2022, and subsequent fiscal years, 13.79/21.5 of the net revenue from the diesel fuel tax.
6(4)For the purposes of subsection (3), the net revenue from the diesel fuel tax is determined in accordance with the following formula:
A - (B + C)
where
A  is the revenue from the diesel fuel tax,
B  is the amount of diesel fuel tax refunds, and
C  is the revenue from the diesel fuel tax that is shared pursuant to an agreement made under section 11.1 of the Revenue Administration Act.