I-3, r. 1 - Regulation respecting the Taxation Act

Section 99r1 Disposition versions

2012-09-01

99R1. For the purposes of paragraph d.3 of section 99 of the Act, the prescribed amount is,

(a)  in respect of a passenger vehicle acquired between 31 August 1989 and 1 January 1991, $24,000; and

(b)  in respect of a passenger vehicle acquired after 31 December 1990, the amount determined by the formula

A + B.

In the formula in subparagraph b of the first paragraph,

(a)  A is

i.  $24,000, if the passenger vehicle was acquired before 1 January 1997,

ii.  $25,000, if the passenger vehicle was acquired after 31 December 1996 and before 1 January 1998,

iii.  $26,000, if the passenger vehicle was acquired after 31 December 1997 and before 1 January 2000,

iv.  $27,000, if the passenger vehicle was acquired after 31 December 1999 and before 1 January 2001, and

v.  $30,000, if the passenger vehicle was acquired after 31 December 2000; and

(b)  B is the sum that would have been payable in respect of federal and provincial sales taxes on the acquisition of the passenger vehicle if it had been acquired, at a cost equal to the amount determined in subparagraph a before the application of the federal and provincial sales taxes, at the time of the acquisition.

s. 99R2; O.C. 1697-92, s. 4; O.C. 1463-2001, s. 35; O.C. 1470-2002, s. 10; O.C. 134-2009, s. 1.