BILL 40
An Act to Amend the
New Brunswick Income Tax Act
Her Majesty, by and with the advice and
consent of the Legislative Assembly of New Brunswick, enacts as follows:
1 The
New Brunswick Income Tax Act, chapter N-6.001 of the Acts of New Brunswick,
2000, is amended by adding after section 51 the following:
Subdivision j.1
First-time University Student Tax Benefit
First-time university student tax benefit
51.1(1) In this section, “designated university ” means a
post-secondary educational institution located in New Brunswick and
prescribed for the purposes of the definition “universities”
in section 1 of the Maritime Provinces
Higher Education Commission Act. (université désignée)
51.1(2) An overpayment of $2,000 on account
of an individual’s liability under this Act for a taxation year
is deemed to have arisen in the taxation year if the individual is
an eligible student who meets the prescribed criteria.
51.1(3) The Minister of Finance of New Brunswick, or any person designated
by that Minister, may enter into an agreement with a designated university
to carry out the purposes of this section on behalf of that Minister.
51.1(4) If an agreement is entered into with a designated university,
the designated university may, in its discretion, refund to an individual
the amount deemed to be an overpayment under this section if the individual
is an eligible student who meets the prescribed criteria.
51.1(5) Upon application by an individual on a form provided by the Minister
of Finance of New Brunswick, that Minister may, in his or her discretion,
refund to the individual the amount deemed to be an overpayment under
this section if the individual is an eligible student who meets the
prescribed criteria.
51.1(6) Notwithstanding subsections (2) to (5), an individual is entitled
to obtain only one refund under this section.
51.1(7) A refund shall not be made until after the date determined by
regulation.
51.1(8) A refund of an amount deemed to be
an overpayment under this section
(a) cannot be charged or given as security,
(b) cannot be assigned except under
a prescribed Act,
(c) cannot be garnished or attached,
(d) is exempt from execution or seizure,
and
(e) cannot be retained by way of deduction
or set-off under the Financial Administration
Act.
51.1(9) The Minister of Finance of New Brunswick
may appoint one or more persons as auditors for the purpose of ensuring
compliance with this section and any regulations pertaining to this
section.
51.1(10) An auditor may audit and make copies
of the following:
(a) the records or other documents of
a designated university pertaining to an individual who has obtained
a refund under subsection (4) or (5); and
(b) the records or other documents of
an individual who has obtained a refund under subsection (4) or (5).
51.1(11) Sections 29, 29.1 and 29.2 of the Revenue Administration Act and any regulations under that
Act pertaining to those sections apply with the necessary modifications
in respect of any premises where records or other documents are kept
with respect to information provided by any person for the purposes
of this section or as required by a person acting under this subsection.
51.1(12) Notwithstanding subsection (11), a person acting under subsection
(11) shall not enter a private dwelling unless the person
(a) has the consent of the occupier,
or
(b) has obtained an entry warrant under
the Entry Warrants Act.
51.1(13) If an individual obtains a refund and the individual is not
entitled to the refund under this section, the individual shall immediately
remit the amount of the refund to the Minister of Finance of New Brunswick.
51.1(14) If an individual does not remit the amount of the refund under
subsection (13), then sections 22 and 23 of the Revenue Administration Act and any
regulations under that Act pertaining to those sections apply with
the necessary modifications to the recovery of the amount.
51.1(15) A person who makes or assists in making a statement in any document
or information required to be furnished under this section or the
regulations pertaining to this section that, at the time and in the
light of the circumstances under which the statement is made, is false
or misleading with respect to a material fact or that omits to state
a material fact, the omission of which makes that statement false
or misleading, commits an offence punishable under Part II of the Provincial Offences Procedure Act as a category F offence.
51.1(16) A person does not commit an offence under subsection (15) in
relation to a statement made if the person did not know that the statement
was false or misleading and, in the exercise of reasonable diligence,
could not have known that the statement was false or misleading.
2 Subsection
119(2.1) of the Act is amended by striking out “section 52.1”
and substituting “section 51.1 or 52.1”.
3 Subsection
124(1) of the Act is amended by adding after paragraph (b) the following:
(b.1) respecting any other matter that,
in the opinion of the Lieutenant-Governor in Council, is necessary
for carrying out the purposes of section 51.1;
COMMENCEMENT
4 This Act shall be deemed to have come into
force on September 1, 2006.