New Harmonized Value-added Tax System Regulations (SOR/2010-117)

Marginal note:Adaptation — employee and shareholder benefits

58.66 In respect of the 2025 taxation year, if

• (a) an amount is required to be included under paragraph 6(1)(a) or (e) of the Income Tax Act in computing an individual’s income from an office or employment and the last establishment of the employer at which the individual ordinarily worked, or to which the individual ordinarily reported, in the year in relation to that office or employment is located in Nova Scotia or the Nova Scotia offshore area, or

• (b) an amount is required under subsection 15(1) of the Income Tax Act to be included in computing an individual’s income and the individual is resident in Nova Scotia at the end of the year

the portion of subclause (I) of the description of A in clause 173(1)(d)(vi)(B) of the Act after sub-subclause 2 is adapted as follows:

13.25%, and

Marginal note:Transitional specified year — subsection 218.1(1.2) of Act

58.67 For the purpose of determining the tax payable by a person under subsection 218.1(1.2) of the Act for a specified year (as defined in section 217 of the Act) of the person that includes April 1, 2025 and for Nova Scotia or the Nova Scotia offshore area, the tax rate for those participating provinces is deemed to be equal to the rate determined by the formula

Marginal note:Adaptation — rebate for pension entities

58.68 For the purposes of determining the provincial pension rebate amount for a claim period (as those terms are defined in subsection 261.01(1) of the Act) of a pension entity that includes April 1, 2025, the description of C in paragraph (a) of the definition provincial pension rebate amount in that subsection is adapted as follows if the participating province referred to in that paragraph is Nova Scotia:

C

is the rate determined by the formula

10% − (1% × C₁/C₂)

where

C₁

is the number of days in the claim period that are after March 2025, and

C₂

is the number of days in the claim period, and

PART 4Repeal

59 [Repeal]

PART 5Application

60 Sections 1 and 34 apply as of March 26, 2009, except that the definition continuous journey in section 1 applies as of February 26, 2010.

61 Parts 1 and 4 apply to any supply made

• (a) on or after May 1, 2010; and

• (b) after February 25, 2010 and before May 1, 2010 unless any part of the consideration for the supply becomes due or is paid before May 1, 2010.

62 Section 35 applies to any agreement varied, altered or terminated on or after March 26, 2009 and to any new agreement entered into on or after that day.

63 Section 36 applies to any agreement varied, altered or terminated on or after April 6, 2010 and to any new agreement entered into on or after that day.

64 Section 37 applies to any transaction made on or after March 26, 2009.

65 Part 3 is deemed to have come into force on October 15, 2009.