Exempt Income Tax (Flood Relief) Remission Regulation, 1997

Exempt Income Tax (Flood Relief) Remission Regulation, 1997, M.R. 192/97 The Financial Administration Act , C.C.S.M. c. F55 Regulation 192/97 Registered September 26, 1997 bilingual version (HTML) Definitions 1 In this remission order, "Act" means The Income Tax Act (Manitoba); (« Loi ») "federal Act" means the Income Tax Act (Canada); (« loi fédérale ») Remission granted 2 Remission is granted to a taxpayer for amounts payable under the Act as a result of an amount paid as relief for loss because of the flooding in or near the Red River Basin in Manitoba in April and May 1997 that is required to be included in the income from employment of a taxpayer by virtue of paragraph 6(1)⁠(a) or (b) of the federal Act, where the payment is voluntary, reasonable and bona fide, is not based on employment factors such as performance, position or years of service and is not made in exchange for past or future services or to compensate for loss of income, plus relevant interest and penalties, on condition that the taxpayer waive any benefit or right accruing under the Act, the federal Act, or under the Canada Pension Plan or the Employment Insurance Act (Canada) as a result of the payment.