BILL 35

An Act to Amend the Small Business Investor Tax Credit Act

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

1 Subsection 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%”.

2 Paragraph 15(2)(e) of the Act is repealed and the following is substituted: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

3 Paragraph 61.1(2)(b) of the New Brunswick Income Tax Act, chapter N-6.001 of the Acts of New Brunswick, 2000, is repealed and the following is substituted: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.

4 This Act shall be deemed to have come into force on April 1, 2015.