Finance
Fisheries and Oceans
April 8, 2014
Responsible Decisions Promote Equity for Harvesters
Remission of Provincial Income Tax for Atlantic Groundfish Licence Retirement Program
Approximately 97 individuals in the province associated with the Atlantic Groundfish Licence Retirement Program (AGLRP) will receive a remission of both the federal and provincial personal income tax. This will ensure fair tax treatment to those individuals associated with the AGLRP.
“Our government passed a resolution in the House of Assembly in
2008 calling on the Federal Government to provide consistent tax treatment
to Atlantic Groundfish Licence Retirement Program retirees. I am pleased
that the Federal Government has approved the payments received under the
program order that will permit the refund of the federal portion of the
personal income tax to individuals listed in the order and we are pleased to
do the same with the provincial portion. At the same time, I would like to
recognize Elizabeth Harvey of Isle aux Morts for her continued efforts on
behalf of the people who were negatively impacted by this previous decision.
She is to be credited for persistence in seeing this matter addressed and
for ensuring fairness for individuals associated with the Atlantic
Groundfish Licence Retirement Program.”
- The Honourable Charlene Johnson, Minister of Finance and President of
Treasury Board
In September 2013, the Federal Government passed an order under the Financial Administration Act to remit a portion of the federal income tax, late-filing penalties, employment insurance benefits repayments, and interest paid or payable thereon, in respect of the 1998, 1999, 2000, 2001 or 2002 tax year, as the case may be, to certain fishers who received payments under the AGLRP. The portion remitted is calculated as if one-half of the payment received from the retirement of the fishing licence under the AGLRP had been non-taxable and the remaining one-half had been a taxable capital gain to an individual licence holder in the tax year in which the AGLRP payment was received.
“Every harvester receiving income from the Atlantic Groundfish
Licence Retirement Program deserved to be treated fairly with respect to
taxation, and so it is very satisfying to see this issue come to a positive
resolution. I commend all those involved in this issue for their
perseverance, and extend my appreciation to the Federal Government for
taking action to correct an unfair situation.”
- The Honourable Keith Hutchings, Minister of Fisheries and Aquaculture
Affected individuals who would like to obtain further information about their account are encouraged to contact the Newfoundland and Labrador Tax Services Office, at 1-877-772-8862.
QUICK FACTS
- 30 -
Media contacts:
Tansy Mundon Director of Communications Department of Finance 709-729-6830, 693-1865 tansymundon@gov.nl.ca |
Jason Card Director of Communications Department of Fisheries and Aquaculture 709-729-3733, 699-0470 jasoncard@gov.nl.ca |
2014 04 08 4:30 p.m.