Vol. 150, No. 21 — October 19, 2016

Registration

SI/2016-59 October 19, 2016

FINANCIAL ADMINISTRATION ACT

Payments Received Under the Atlantic Groundfish Licence Retirement Program Remission Order, No. 2

P.C. 2016-869 October 7, 2016

Whereas the recommendation of the Treasury Board is required for the remission of other debts under subsection 23(2.1) (see footnote a) of the Financial Administration Act (see footnote b), and the Treasury Board has delegated to the President of the Treasury Board, pursuant to subsection 6(4) (see footnote c) of that Act, its power to make that recommendation, in respect of remission orders in amounts of less than $25,000 for other debts that are under the responsibility of the Minister of National Revenue;

Therefore, His Excellency the Governor General in Council, considering that it is in the public interest to do so, on the recommendation of the Minister of National Revenue and the President of the Treasury Board, pursuant to subsections 23(2) (see footnote d) and (2.1) (see footnote e) of the Financial Administration Act (see footnote f), makes the annexed Payments Received Under the Atlantic Groundfish Licence Retirement Program Remission Order, No. 2.

Payments Received Under the Atlantic Groundfish Licence Retirement Program Remission Order, No. 2

Remission

1 Remission is granted, in respect of a portion of the payment received on the disposition of a fishing licence under the Atlantic Groundfish Licence Retirement Program, for the 1999 tax year, to each person whose name is set out in column 1 of the schedule, of

SCHEDULE
(Section 1)

Item

Column 1

Name

Column 2

Amount ($)

1

FRASER, Stanley

24,835.00

2

GREEN, Gerard

1,723.12

3

NEWELL, David A.

8,882.27

4

SEXTON, Anthony G.

13,200.92

5

SHEPPARD, Morgan W. Gordon

2,924.76

6

WOODROW, John P.

813.78

EXPLANATORY NOTE

(This note is not part of the Order.)

The Order remits a portion of the federal income tax, employment insurance benefits repayments, where applicable, and interest paid or payable thereon, in respect of the 1999 tax year, by fishers who received payments under the Atlantic Groundfish Licence Retirement Program (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.