British Columbia Forestry Revitalization Remission Order

Link to law: http://laws-lois.justice.gc.ca/eng/regulations/SI-2013-1/FullText.html

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British Columbia Forestry Revitalization Remission Order

SI/2013-1FINANCIAL ADMINISTRATION ACT
Registration 2013-01-16
British Columbia Forestry Revitalization Remission Order
P.C. 2013-2 2013-01-11His Excellency the Governor General in Council, considering that it is in the public interest to do so, on the recommendation of the Minister of Finance, pursuant to section 23Footnote a of the Financial Administration ActFootnote b, makes the annexed British Columbia Forestry Revitalization Remission Order.

Return to footnote aS.C. 1999, c. 31, s. 102
Return to footnote bR.S., c. F-11
Interpretation

Marginal note:Definitions

1 (1) The following definitions apply in this Order.

Act
Loi

Act means the Income Tax Act. (Loi)

declaration of Subtrust
déclaration de sous-fiducie

declaration of Subtrust means the declaration, dated January 3, 2012, that sets out the terms and conditions of the Subtrust. (déclaration de sous-fiducie)

eligible amount
montant admissible

eligible amount, in respect of an eligible taxpayer, means an amount paid by the Subtrust in respect of the eligible taxpayer’s Eligible Income Tax, within the meaning assigned by section 2.02 of the declaration of Subtrust, that is attributable to an FRT Contractor Mitigation Amount. (montant admissible)

eligible taxpayer
contribuable admissible

eligible taxpayer has the meaning assigned by section 2.04 of the declaration of Subtrust. (contribuable admissible)

FRT Contractor Mitigation Amount
montant compensatoire de la FRT

FRT Contractor Mitigation Amount has the meaning assigned by section 2.01 of the declaration of Subtrust. (montant compensatoire de la FRT)

Subtrust
sous-fiducie

Subtrust means the 2011 Contractor Mitigation Account Subtrust that was established on January 3, 2012, and is a subtrust of the BC Forestry Revitalization Trust II. (sous-fiducie)

Marginal note:Application of meanings in Act

(2) Unless the context otherwise requires, words and expressions used in this Order have the same meaning as in the Act.

Remission

Marginal note:Eligible amount

2 Remission is granted to each eligible taxpayer of the income tax paid or payable under Part I of the Act for a taxation year, and of any related interest and penalties, that are attributable to an eligible amount paid in the year by the Subtrust to, or for the benefit of, the eligible taxpayer.

Marginal note:FRT Contractor Mitigation Amount

3 Remission is granted to each eligible taxpayer in respect of whom an eligible amount has been paid by the Subtrust of the amount of any interest and penalties paid or payable to the extent that they relate to income tax under Part I of the Act that is attributable to an FRT Contractor Mitigation Amount paid to, or for the benefit of, the eligible taxpayer.