BILL 18

An Act to Amend the Financial Administration Act

Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 The heading “Remission of tax, fee or penalty” preceding section 20 of the Financial Administration Act, chapter 160 of the Revised Statutes, 2011, is repealed and the following is substituted:

Remission

2 Section 20 of the Act is amended by adding after subsection (1) the following:

20(1.1) The Minister may remit any tax and any associated interest and penalties in any of the following circumstances:

(a)  the bankruptcy of the taxpayer;

(b)  in the case of the tax imposed under the Real Property Tax Act,

(i) the property account number is terminated,

(ii) the Minister purchases the real property at a sale held under section 12 of that Act, or

(iii) the real property is assessed in the name of the Province and tax arrears are due and payable on the property; or

(c)  the total amount to be remitted does not exceed $25,000 and the Minister considers it in the public interest to do so or considers that hardship or injustice has resulted or is likely to result.

3 Section 23 of the Act is amended

(a)  in subsection (1) by striking out “subsection (2)” and substituting “subsections (2) and (2.1)”;

(b)  by adding after subsection (2) the following:

23(2.1) The Minister may delete from the assets of the Province any obligation or debt due to or claim by the Province that pertains to any tax and any associated interest and penalties in any of the following circumstances:

(a)  the bankruptcy of the taxpayer;

(b)  in the case of the tax imposed under the Real Property Tax Act,

(i) the property account number is terminated,

(ii) the Minister purchases the real property at a sale held under section 12 of that Act, or

(iii) the real property is assessed in the name of the Province and tax arrears are due and payable on the property; or

(c)  the total amount to be deleted does not exceed $25,000 and the Minister considers it in the public interest to do so or considers that hardship or injustice has resulted or is likely to result.