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Friday, June 14, 2013

Higgs Cuts Some Tax Red Tape

Some provincial tax regulations are going to be a little easier to deal with thanks to changes announced in the Legislature by Finance Minister Blaine Higgs.
One of those changes will impact the amount of sales tax you pay on a used vehicle if it's not listed in the valuation books used by Service New Brunswick - the government agency will provide what Higgs calls "a common sense estimate."
But the Minister says you will still have the option of obtaining an independent appraisal of the vehicle for tax purposes - meantime Higgs is also reducing the amount of paperwork required by companies and independent businesses to claim tax free amounts of fuel - and - reporting will now be based on the company's fiscal year rather than the provincial government's fiscal year.