of Bill :
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:
1 Subsection 61(2) of the New Brunswick Income Tax Act, chapter N-6.001 of the Acts of New Brunswick, 2000, is amended
(a) in paragraph (a) by striking out "$100" and substituting "$200";
(b) by repealing paragraph (b) and substituting the following:
(b) $150 plus 50% of the amount by which the aggregate exceeds $200 if the aggregate exceeds $200 and does not exceed $550, or
(c) in subparagraph (c)(i) by striking out "$300" and substituting "$325".
2 This Act shall be deemed to have come into force on January 1, 2002.
(a) to (c) The existing provision is as follows:
61(2) There may be deducted from the tax otherwise payable under this Part by a taxpayer who is an individual or a corporation for a taxation year in respect of the aggregate of all amounts, each of which is the amount of a contribution of money made by the taxpayer in a year to a registered political party, a registered district association or a registered independent candidate,
(a) 75% of the aggregate if the aggregate does not exceed $100,
(b) $75 plus 50% of the amount by which the aggregate exceeds $100 if the aggregate exceeds $100 and does not exceed $550, or
(c) the lesser of
(i) $300 plus 33 1/3% of the amount by which the aggregate exceeds $550 if the aggregate exceeds $550, and
if each contribution that is included in the aggregate is proven by filing with the Minister a receipt signed by the official representative of the registered political party, registered district association or registered independent candidate, as the case may be.