HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

1 Section 29 of the Income Tax Act, R.S.B.C. 1996, c. 215, is amended

(a) in subsection (2) (b) by adding the following subparagraph:

(x) section 147 [BC seniors' home renovation tax credit]. , and

(b) in subsection (3) (b) (i) by repealing clause (E) and substituting the following:

(E) section 127 [training tax credits];

(F) section 147 [BC seniors' home renovation tax credit], or .

2 The following Part is added:

Part 11 — BC Seniors' Home Renovation Tax Credit

Definitions

141  In this Part:

"eligible individual" means an individual, other than a trust, who meets the following requirements:

(a) the individual was resident in British Columbia on the last day of the taxation year;

(b) the individual

(i) was a senior at the end of the taxation year in which a qualifying expenditure was paid in respect of a qualifying renovation to the individual's qualifying principal residence, or

(ii) was a qualifying relation of a senior at the end of the taxation year in which a qualifying expenditure was paid in respect of a qualifying renovation to the individual's qualifying principal residence;

"principal residence", in respect of an individual, means premises, including a non-seasonal mobile home, that are occupied by the individual as the individual's primary place of residence;

"qualifying expenditure", of an individual for a taxation year, means an outlay or expense made or incurred by, or on behalf of, the individual in the taxation year that is directly attributable to a qualifying renovation by the individual and includes such an outlay or expense for permits required for, or for the rental of equipment used in the course of, the qualifying renovation, but does not include such an outlay or expense

(a) to acquire goods that have been used, or acquired for use or lease, by the individual or by a qualifying relation of the individual, for any purpose before they were acquired by the individual or the qualifying relation of the individual,

(b) made or incurred under the terms of an agreement entered into before April 1, 2012,

(c) to acquire a property that can be used independently of the qualifying renovation,

(d) that is the cost of annual, recurring or routine repair, maintenance or service,

(e) to acquire a household appliance,

(f) to acquire an electronic home-entertainment device,

(g) for financing costs in respect of the qualifying renovation,

(h) made or incurred for the purpose of gaining or producing income from a business or property, or

(i) in respect of goods or services provided by a person not dealing at arm's length with the individual, unless the person is registered for the purposes of Part IX of the Excise Tax Act (Canada);

"qualifying principal residence", of an individual for a taxation year, means a residence located in British Columbia that is,

(a) if the individual is a senior at the end of the taxation year, the principal residence of the individual at any time during the taxation year or a residence that is reasonably expected to become the principal residence of the individual within 24 months after the end of the taxation year, or

(b) if the individual is not a senior at the end of the taxation year, the principal residence of the individual at any time during the taxation year and that is, at the same time, also the principal residence of a qualifying relation of the individual who is a senior at the end of the taxation year, or a residence that is reasonably expected to become such a shared principal residence within 24 months after the end of the taxation year;

"qualifying relation", of an individual, means a person who is connected or related to the individual in any manner described in section 251 (6) or 252 (2) of the federal Act;

"qualifying renovation" means a prescribed improvement or an improvement

(a) that is part of a renovation or alteration of a qualifying principal residence of a senior or of the land on which the residence is situated, or that is part of the construction of the residence, that can reasonably be considered to be undertaken

(i) to enable the senior to gain access to, or to be mobile or functional within, the residence or the land, or

(ii) to reduce the risk of harm to the senior within the residence or the land, or in gaining access to the residence or the land,

(b) that

(i) is of an enduring nature and that is integral to the residence or the land on which the residence is situated, or

(ii) relates to the purchase and installation of a modular or removable version of an item of a type that can otherwise be installed as a permanent fixture to the residence or the land, including modular ramps and non-fixed bath lifts,

(c) whose primary purpose is not to increase the value of the residence or the land,

(d) that would ordinarily be undertaken by, or on behalf of, a person who has an impairment to enable the person to gain access to, or to be mobile or functional within, the person's residence or land, and

(e) that is not a prescribed excluded improvement;

"senior" means an individual who is 65 years of age or older.

BC seniors' home renovation tax credit

142  (1) Subject to the other provisions of this section, an eligible individual may claim a tax credit for the taxation year in the amount determined by the formula:

A x B

(2) Subject to subsection (3), for the purposes of this section, a qualifying expenditure is deemed to have been paid on the earlier of the date on which the expenditure was paid and the date the expenditure became payable.

(3) If a qualifying expenditure in respect of a qualifying renovation is paid by an individual in 2 or more installments, the total of all installments with respect to the qualifying expenditure is deemed to have been paid on the earlier of the date on which the last installment was paid and the date the last installment became payable.

(4) A qualifying expenditure of an individual includes an outlay or expense made or incurred by a co-operative housing corporation, a strata corporation or a similar entity (in this subsection referred to as the "corporation"), in respect of a property that is owned, administered or managed by the corporation and that includes the qualifying principal residence of the individual, to the extent of the individual's share of that outlay or expense, if

(a) the outlay or expense would be a qualifying expenditure of the corporation if the corporation were a natural person and the property were the principal residence of that natural person, and

(b) the corporation has notified the individual, in writing, of the individual's share of the outlay or expense.

(5) A qualifying expenditure of an individual includes an outlay or expense made or incurred by a trust, in respect of a property that is owned by the trust and that includes the qualifying principal residence of the individual, to the extent of the share of that outlay or expense that is reasonably attributable to the individual, having regard to the amount of the outlays or expenses made or incurred in respect of the principal residence of the individual including, for this purpose, common areas relevant to more than one principal residence, if

(a) the outlay or expense would be a qualifying expenditure of the trust if the trust were a natural person and the property were the principal residence of that natural person, and

(b) the trust has notified the individual, in writing, of the individual's share of the outlay or expense.

(6) For the purposes of this section, the following rules apply:

(a) if more than one individual is entitled to claim a tax credit under this section for a taxation year in respect of a single residence that is the qualifying principal residence of all of the individuals at the same time during the taxation year, the total amount of qualifying expenditures that may be claimed by all of the individuals in respect of the residence cannot exceed $10 000;

(b) if an individual and the individual's spouse or common-law partner on December 31 of a taxation year are both entitled to claim a tax credit under this section, the total amount of qualifying expenditures that may be claimed by the 2 individuals for the taxation year cannot exceed $10 000.

(7) If the individuals cannot agree as to what portion of the amount each can claim under subsection (6) (a) or (b), the minister may fix the portions.

(8) An outlay or expense is not a qualifying expenditure unless the work to implement the qualifying renovation to which that outlay or expense is directly attributable begins within a reasonable time after the outlay or expense is made or incurred.

Part-year residents

143  (1) An individual who is resident in Canada for only part of a taxation year is entitled to claim for the year only the amount the individual would be entitled to claim for the year under section 142 [BC seniors' home renovation tax credit] that can reasonably be considered wholly applicable to any period in the year throughout which the individual was resident in Canada, computed as though that period were the whole taxation year.

(2) The amount that may be claimed under section 142 must not exceed the amount that the individual would have been entitled to claim under this section if the individual had been resident in Canada throughout the year.

Bankruptcy

144  (1) An individual who becomes bankrupt in a calendar year is entitled to claim, for each taxation year that ends in the calendar year, only those amounts that the individual is entitled to claim for the taxation year under section 142 [BC seniors' home renovation tax credit] as can reasonably be considered wholly applicable to the taxation year.

(2) The sum of all amounts that may be claimed under section 142 for all taxation years of the individual ending in a calendar year must not exceed the total amount that the individual would have been entitled to claim under that section in respect of the calendar year if the individual had not become bankrupt.

(3) If an individual becomes bankrupt in a calendar year and, when the bankruptcy occurs, the individual is not a senior but becomes a senior by the end of the calendar year, the bankrupt individual is eligible to claim a tax credit under section 142 for the taxation year that ends at the time of the bankruptcy.

(4) If an individual becomes bankrupt in a calendar year and, when the bankruptcy occurs, the individual is a qualifying relation of another individual who is not a senior at that time but becomes a senior by the end of the calendar year, the bankrupt individual is eligible to claim a tax credit under section 142 for the taxation year that ends at the time of the bankruptcy.

Death

145  (1) If, when an individual dies, the individual is not a senior but would have become a senior by the end of the calendar year in which the individual dies, the individual is eligible to claim a tax credit under section 142 [BC seniors' home renovation tax credit] for the taxation year that ends on the date of death.

(2) If, when an individual dies, the individual is a qualifying relation of another individual who is not a senior at that time but becomes a senior by the end of the calendar year in which the death occurs, the deceased individual is eligible to claim a tax credit under section 142 for the taxation year that ends on the date of death.

(3) If an individual is a qualifying relation of another individual who, immediately before death, is not a senior but who would have become a senior by the end of the calendar year in which the death occurs, the individual who is the qualifying relation is eligible to claim a tax credit under section 142 for a taxation year that ends in the calendar year as if the other individual had not died.

Relationship to other credits

146  (1) Section 248 (28) of the federal Act applies for the purposes of section 142 [BC seniors' home renovation tax credit].

(2) Despite section 248 (28) (b) of the federal Act, an individual may include qualifying expenditures in determining both an amount under section 4.5 (1) [medical expense credit] and an amount under section 142 (1), if those amounts otherwise qualify to be included for the purposes of those provisions.

Deemed payment of tax

147  An individual who has claimed and is eligible for a tax credit under this Part for a taxation year is deemed to have paid, at the time referred to in section 156.1 (4) of the federal Act, as that section relates to the taxation year, the amount of the credit on account of the individual's tax payable under this Act.

Filing requirements

148  An individual who wishes to claim the tax credit under this Part must file, with the individual's return of income filed under section 29 [application of federal provisions — returns of income and assessments of tax] for the taxation year,

(a) an application for the tax credit in the form, and containing the information, required by the Commissioner of Income Tax, and

(b) other records required by the Commissioner of Income Tax.

Powers of audit

149  Without limiting any provision of this Act or the federal Act, for the purpose of determining eligibility for the tax credit under this Part, the Commissioner of Income Tax has powers equivalent to the federal minister under sections 230 (3), 231, 231.1 and 233 of the federal Act, and for that purpose those sections apply.

Power to make regulations

150  (1) Without limiting section 48 (1) and (2) [power to make regulations], the Lieutenant Governor in Council may make regulations as follows:

(a) prescribing improvements for the purpose of the definition of "qualifying renovation" in section 141 [definitions];

(b) prescribing excluded improvements for the purpose of the definition of "qualifying renovation" in section 141;

(c) prescribing programs for the purpose of paragraph (c) of the description of "D" in section 142 (1) [BC seniors' home renovation tax credit].

(2) A regulation made under this Part may be made retroactive to April 1, 2012 or a later date, and if made retroactive is deemed to have come into force on the specified date.

3 The following Part is added:

Part 12 — BC First-Time New Home Buyers' Bonus

Definitions

151  (1) In this Part:

"assessment" means an assessment, reassessment or additional assessment under this Act, the federal Act or the Excise Tax Act (Canada);

"commissioner" means the Commissioner of Income Tax;

"eligible individual" means

(a) an individual who enters into an eligible transaction, if the individual

(i) is a first-time new home buyer,

(ii) is a resident of British Columbia in the eligible taxation year, and

(iii) filed a return of income for the eligible taxation year, or

(b) a prescribed individual who enters into an eligible transaction,

but does not include

(c) an individual who has a spouse or a common-law partner at the time the eligible transaction is entered into, unless the individual's spouse or common-law partner is also a person referred to in subparagraphs (i), (ii) and (iii) of paragraph (a) or a person referred to in paragraph (b),

(d) an individual who, together with one or more other individuals, enters into an eligible transaction, unless all of the individuals are individuals referred to in paragraph (a) or (b),

(e) an individual who is confined to a prison or similar institution for a period of at least 90 days during which period the individual enters into the agreement of purchase and sale for an eligible transaction, or

(f) a prescribed individual;

"eligible taxation year", in relation to an individual, means

(a) the 2011 taxation year, if the individual is resident in British Columbia at the end of December 31, 2011,

(b) the 2012 taxation year,

(i) if the individual is not resident in British Columbia at the end of December 31, 2011 but is resident in British Columbia at the end of December 31, 2012,

(ii) if the individual is an individual referred to in paragraph (c) of the definition of "eligible individual" and the individual or the individual's spouse or common-law partner is not resident in British Columbia at the end of December 31, 2011 but both the individual and the individual's spouse or common-law partner are resident in British Columbia at the end of December 31, 2012, or

(iii) if the individual is an individual referred to in paragraph (d) of the definition of "eligible individual" and all of the individuals referred to in that paragraph are not resident in British Columbia at the end of December 31, 2011 but all are resident in British Columbia at the end of December 31, 2012, or

(c) a prescribed year;

"eligible transaction" means

(a) an eligible transaction referred to in subsection (2), or

(b) a prescribed transaction,

but does not include

(c) an eligible transaction referred to in subsection (2) that is excluded from this definition by regulation;

"family income" means, of an individual for a taxation year, the total of the following:

(a) the income of the individual for the taxation year;

(b) if the individual has a spouse or common-law partner at the time the eligible transaction is entered into, the income of the spouse or common-law partner for the taxation year;

"federal HST regulation" means the New Harmonized Value-added Tax System Regulations, No. 2 made under the Excise Tax Act (Canada);

"first-time new home buyer" means an individual who

(a) has not previously held a registered interest in land or otherwise owned an interest in a residential complex, whether in British Columbia or elsewhere, that constituted the individual's primary place of residence, and

(b) has not previously obtained a tax credit under this Part;

"individual" does not include a trust;

"qualifying individual" means an eligible individual who is the prescribed person or the person in a prescribed class in respect of prescribed property, within the meaning of section 256.21 (1) of the Excise Tax Act (Canada), for the purpose of the rebate under that section;

"return of income" means a return of income as defined in paragraph (a) of the definition of "return of income" in section 122.6 of the federal Act.

(2) The following are eligible transactions:

(a) a written agreement of purchase and sale for the purchase of a building and land that is situated in British Columbia, if the building and land is a residential complex that is a single unit residential complex or a residential condominium unit that is acquired for use as the primary place of residence of an individual and

(i) the individual

(A) is a prescribed person under section 41 (3) of the federal HST regulation who has made an application for a rebate in accordance with section 41 (4) of that regulation, or

(B) is a prescribed person under section 41 (3) of the federal HST regulation with respect to whom an application has been made in accordance with section 41 (6) of that regulation, and

(ii) the individual,

(A) on or after February 21, 2012 and before April 1, 2013, has entered into the agreement of purchase and sale with respect to the building and land, and

(B) subject to subsection (3) of this section, ownership or possession of the residential complex is transferred to the individual before April 1, 2013;

(b) a written agreement of purchase and sale for the purchase of a building or part of a building that is situated in British Columbia, if the building or part of a building is a residential complex that is a single unit residential complex or a residential condominium unit that is acquired for use as the primary place of residence of the individual and

(i) the individual

(A) is a prescribed person under section 43 (2) of the federal HST regulation who has made an application for a rebate in accordance with section 43 (3) of that regulation, or

(B) is a prescribed person under section 43 (2) of the federal HST regulation with respect to whom an application has been made in accordance with section 43 (4) of that regulation, and

(ii) the individual

(A) has, on or after February 21, 2012 and before April 1, 2013, entered into the agreement of purchase and sale with respect to the building or part of the building that forms part of the residential complex, and

(B) ownership and possession of the building or part of the building is transferred to the individual before April 1, 2013;

(c) an agreement for the acquisition of a share of the capital stock of a cooperative housing corporation, if an individual has acquired the share for the purpose of using a residential unit in a residential complex of the corporation that is situated in British Columbia as the primary place of residence of the individual and

(i) the individual is a prescribed person under section 45 (3) of the federal HST regulation who has made an application for a rebate in accordance with section 45 (4) of that regulation,

(ii) the individual has, on or after February 21, 2012 and before April 1, 2013, entered into the agreement to acquire the share with respect to that place of residence, and

(iii) ownership of the share transfers before April 1, 2013;

(d) a written agreement for the acquisition of land that is situated in British Columbia on which the construction or substantial renovation of a residential complex, other than a mobile home or floating home, is undertaken by an individual, or by a person the individual has engaged to construct or substantially renovate a residential complex, for use as the primary place of residence of the individual, if

(i) the individual is a prescribed person under section 46 (3) of the federal HST regulation who has made an application for a rebate in accordance with section 46 (6) of that regulation,

(ii) the individual has, on or after February 21, 2012 and before April 1, 2013, entered into the agreement for the acquisition of land, and

(iii) the residential complex is substantially completed or occupied as the primary place of residence before April 1, 2013;

(e) a written agreement of purchase and sale for the acquisition of a mobile home or floating home that is, or forms part of, a residential complex that an individual has acquired for use in British Columbia as the primary place of residence of the individual if

(i) the individual has entered into the agreement of purchase and sale with respect to the mobile home or floating home, and an agreement for the acquisition of the land, if any, to which the mobile home or floating home is attached, on or after February 21, 2012 and before April 1, 2013, and

(ii) the individual is a prescribed person under section 41 (3) of the federal HST regulation

(A) who has made an application for a rebate in accordance with section 41 (4) of that regulation, or with respect to whom an application has been made in accordance with section 41 (6) of that regulation, and

(B) ownership or possession of the mobile home or floating home is transferred to the individual before April 1, 2013, or

(iii) the individual is a prescribed person under section 43 (2) of the federal HST regulation

(A) who has made an application for a rebate in accordance with section 43 (3) of that regulation, or with respect to whom an application has been made in accordance with section 43 (4) of that regulation, and

(B) ownership and possession of the mobile home or floating home is transferred to the individual before April 1, 2013, or

(iv) the individual is a prescribed person under section 46 (3) of the federal HST regulation

(A) who has made an application for a rebate in accordance with subsection 46 (6) of that regulation, and

(B) the mobile home or floating home is substantially completed or occupied as the primary place of residence before April 1, 2013.

(3) If the residential complex referred to in subsection (2) (a) is a residential condominium unit and possession of that unit is transferred to an individual before the condominium complex in which the unit is situated is registered as a condominium, in order to qualify as an eligible transaction under that subsection,

(a) the condominium complex must be registered before January 31, 2013, or

(b) ownership of the unit must be transferred to the individual before April 1, 2013.

(4) Subject to subsection (5), for the purposes of this Part, the date on which an agreement of purchase and sale, an agreement for the acquisition of a share or an agreement for the acquisition of land is entered into is deemed to be the date of the signature of the last party to the agreement.

(5) If an agreement of purchase and sale, an agreement for the acquisition of a share or an agreement for the acquisition of land is amended or replaced by one or more new agreements, the date on which the agreement is entered into is deemed to be the date of the signature of the last party to the original agreement before its amendment or replacement.

(6) For the purpose of this Part, sections 122.61 (3) (a), 122.61 (3.1) (a), and 122.7 (12) of the federal Act apply.

(7) For the purposes of this section, a single unit residential complex includes a single unit residential complex as defined in section 254 (1) of the Excise Tax Act (Canada) as it read on February 21, 2012.

(8) For the purposes of this section, unless they are at variance with the definitions in this section, the definitions in Part IX of the Excise Tax Act (Canada) as it read on February 21, 2012, and the definitions and interpretations made by the regulations under that Act as they read on that date, apply.

Tax credit for first-time new home buyers

152  A qualifying individual may claim a tax credit for an eligible taxation year equal to the excess, if any, of

A – B

Deemed payment of tax

153  An individual who has claimed and is eligible for a tax credit under this Part for a taxation year is deemed to have paid, at the time referred to in section 156.1 (4) of the federal Act, as that section relates to the taxation year, the amount of the credit on account of the individual's tax payable under this Act.

Application for tax credit

154  (1) An individual may file with the commissioner an application for a tax credit under this Part for an eligible taxation year.

(2) The application must be in the form and contain the information required by the commissioner.

(3) In addition to the application, the individual must file with the application, or within a later period approved by the commissioner, any other information or records required by the commissioner.

(4) An application with respect to an eligible transaction must be filed within the prescribed time for filing an application for the related new housing rebate under section 256.21 (2) of the Excise Tax Act (Canada).

(5) Despite subsection (4), an application under this section must be filed on or before March 31, 2015.

Determination of tax credit

155  (1) The commissioner must examine an application and other information or records filed under section 154 [application for tax credit] and determine the amount of any tax credit to which the individual is entitled under this Part.

(2) If the commissioner determines the amount of any tax credit for a taxation year, the commissioner must send to the individual a notice of determination that specifies the amount of the tax credit for the taxation year.

(3) The commissioner

(a) is not bound by an application or other information or records supplied by or on behalf of an individual, and

(b) may determine the amount of a tax credit for a taxation year despite the supply of the application or other information or records by or on behalf of the individual.

Determination period

156  The commissioner may determine the amount of any tax credit or penalty in respect of a taxation year within the following time periods:

(a) the later of the following:

(i) three years after the date the notice of determination is sent under section 155 [determination of tax credit];

(ii) one year after the earlier of the following if an individual is issued a notice of assessment:

(A) the day on which the commissioner receives notification from an individual under section 158 [notice to commissioner of subsequent assessment];

(B) the day on which the commissioner receives notification from the taxing authority under this Act that the individual has been issued a notice of assessment;

(iii) one year after the day on which the commissioner receives notification from the taxing authority under this Act that the spouse or common-law partner of an individual has been issued a notice of assessment that changes an amount relevant to the calculation of the individual's tax credit under this Part;

(b) at any time,

(i) if the individual has made any misrepresentation or committed any fraud in filing the individual's application or supplying information under this Part,

(ii) to carry out the effect of a waiver or cancellation under section 163 [waiver or cancellation of penalty], or

(iii) to carry out the effect of a decision of the Provincial minister under section 164 [appeal to minister].

Determination valid and binding

157  Subject to being varied on appeal or by redetermination, a determination under this Part is valid and binding despite any error, defect or omission in the determination or in procedure.

Notice to commissioner of subsequent assessment

158  If an individual is issued a notice of assessment that changes an amount relevant to the calculation of the individual's tax credit under this Part, the individual, within 90 days after the notice was issued or within a later period approved by the commissioner, must

(a) file with the commissioner a notice in the form and containing the information required by the commissioner, and

(b) include with the notice any other information or records required by the commissioner.

Payment of tax refund

159  (1) If an overpayment is created as the result of the tax credit, the Provincial minister must pay, out of the consolidated revenue fund, the tax refund payable to an individual under this Part in the amount specified in the notice of determination sent to the individual.

(2) Despite the Financial Administration Act and the Interest on Overdue Accounts Payable Regulation, B.C. Reg. 215/83, no interest is payable with respect to the tax refund referred to in subsection (1).

Tax refund cannot be attached or assigned

160  A tax refund referred to in section 159 (1) [payment of tax refund]

(a) cannot be charged or given as security,

(b) cannot be assigned except to a prescribed person,

(c) cannot be garnished or attached, and

(d) is exempt from execution or seizure.

Imposition of administrative penalty

161  (1) The commissioner may determine and impose a penalty on an individual who is liable to a penalty under section 162 [administrative penalties].

(2) If the commissioner imposes a penalty on an individual, the commissioner must send to the individual a notice of determination that specifies the amount of the penalty imposed.

Administrative penalties

162  (1) In this section, "excess refund" means the amount by which the tax refund under this Part that would have been claimed by the individual, if the tax refund had been calculated on the basis of the information provided in the application, return, report, notice or other record, exceeds the individual's tax refund for the taxation year.

(2) An individual who knowingly or under circumstances amounting to gross negligence in the carrying out of any duty or obligation imposed under this Part, makes, or participates in, assents to or acquiesces in the making of, a statement or omission in an application, return, report, notice or other record supplied to the commissioner that results in an excess refund is liable to a penalty equal to the greater of

(a) $100, and

(b) 100% of the excess refund.

(3) An individual who fails to file with the commissioner a notice in accordance with section 158 [notice to commissioner of subsequent assessment], is liable, in respect of each failure, to a penalty equal to the greater of

(a) $100, and

(b) $25 for each day after which the notice was required to be filed under that section, to a maximum of $2 500.

Waiver or cancellation of penalty

163  The commissioner may at any time waive or cancel all or part of any penalty otherwise payable by an individual under this Part.

Appeal to minister

164  (1) An individual may appeal the following to the Provincial minister:

(a) a determination of a tax credit under section 155 [determination of tax credit];

(b) an imposition of a penalty under section 161 [imposition of administrative penalty].

(2) An appeal under subsection (1)

(a) must be made within 90 days after the date on the notice of determination in respect of the matter being appealed, and

(b) must be made by serving a notice of appeal on the Provincial minister by mailing the notice to that minister.

(3) The appellant must set out in the notice of appeal a statement of all material facts and the reasons in support of the appeal.

(4) On receipt of all relevant information from the commissioner and the notice of appeal, the Provincial minister must

(a) confirm, reverse or vary the commissioner's decision or determination, and

(b) notify the appellant in writing of the minister's decision.

Liability for recoverable amount

165  (1) An individual is liable to pay to the government the following:

(a) the amount by which the tax refund under this Part that was paid to or on behalf of the individual or set-off under the Financial Administration Act exceeds the tax refund that the individual is entitled to receive;

(b) the amount of any penalties imposed on the individual under section 161 [imposition of administrative penalty].

(2) Despite the Financial Administration Act and the Interest on Overdue Accounts Receivable Regulation, B.C. Reg. 214/83, no interest is payable with respect to the amount referred to in subsection (1).

Collection of recoverable amount

166  Part 5 of the International Business Activity Act applies for the purpose of collecting an amount referred to in section 165 (1) [liability for recoverable amount].

Powers of audit

167  Without limiting any provision of this Act or the federal Act, for the purpose of determining an amount under this Part, the commissioner has powers equivalent to the federal minister under sections 231 to 231.5, 231.7 and 233 (1) of the federal Act, and for that purpose those sections apply.

Application of other provisions

168  (1) A tax credit under this Part is not to be considered in applying any of the following provisions:

(a) section 31 [installment payments: farmers and fishers];

(b) section 32 [installment payments: other individuals];

(c) section 34 [returns, payments and interest];

(d) section 35 [refund for tax credits];

(e) section 36 [amount on which installment calculated];

(f) section 37 [failure to file return or corporate return and failure to provide information];

(g) section 39 [penalty for late or deficient installments];

(h) section 39.1 [misrepresentation of tax matter by third party];

(i) section 40 [refunds].

(2) The following provisions do not apply for the purposes of this Part, except to the extent provided in this Part:

(a) section 1 (8.1) [interpretation];

(b) section 29 [returns of income and assessments of tax];

(c) section 30 [reassessment and amended return];

(d) section 38 [failure to report income, false statement or omission and burden of proof on appeal];

(e) section 41 [objections to assessments and extension of time];

(f) section 42 [appeal by taxpayer];

(g) section 43 [reply];

(h) section 44 [procedure];

(i) section 45 [irregularities, extension of time and private hearings];

(j) section 46 [court practice];

(k) section 47 [administration, interest, garnishment and proceedings to collect];

(l) section 49 [debts to Her Majesty];

(m) section 50 [certificates];

(n) section 51 [warrant];

(o) section 52 [acquisition of debtor's property];

(p) section 53 [payment of money seized from tax debtor];

(q) section 54 [seizure of goods];

(r) section 55 [taxpayer leaving Canada or defaulting];

(s) section 59 [inspections, privilege, information returns and corporate execution];

(t) section 61 [offence and penalty];

(u) section 62 [further offences];

(v) section 70 [payments on account].

Administration

169  (1) Despite any collection agreement, the Provincial minister must administer and enforce this Part.

(2) Despite section 69 (3) [collection agreement], the federal minister is not authorized to use, perform or exercise any of the powers, duties or discretions of the Provincial minister under this Part.

Delegation of powers

170  (1) The commissioner may authorize any other officer of the ministry to perform and exercise duties imposed and powers conferred on the commissioner by this Part as may in the commissioner's opinion be conveniently performed or exercised by that officer.

(2) The performance or exercise by the officer authorized under subsection (1) of the duties or powers referred to in that subsection is of the same effect as if they were performed or exercised by the commissioner.

Power to make regulations

171  (1) Without limiting section 48 (1) and (2) [power to make regulations], the Lieutenant Governor in Council may make regulations as follows:

(a) prescribing individuals or classes of individuals for the purposes of paragraphs (b) and (f) of the definition of "eligible individual" in section 151 (1) [definitions];

(b) prescribing taxation years for the purpose of the definition of "eligible taxation year" in section 151 (1);

(c) prescribing transactions or classes of transactions for the purposes of paragraphs (b) and (c) of the definition of "eligible transaction" in section 151 (1);

(d) prescribing persons or classes of persons for the purpose of section 160 (b) [tax refund cannot be attached or assigned];

(e) defining a word or expression used in this Part.

(2) A regulation made under this Part may be made retroactive to February 21, 2012 or a later date, and if made retroactive is deemed to have come into force on the specified date.

Consequential Amendments

International Business Activity Act

4 Section 22 (1) of the International Business Activity Act, S.B.C. 2004, c. 49, is amended in paragraph (b) (iv) of the description of "net tax payable" by adding the following clause:

(D) section 147 [BC seniors' home renovation tax credit]; .

5 Section 22 (1) is amended in paragraph (b) (iv) of the description of "net tax payable" by adding the following clause:

(E) section 153 [BC first-time new home buyers' bonus].

Commencement

6  The provisions of this Act referred to in column 1 of the following table come into force as set out in column 2 of the table:

 
Explanatory Notes

SECTION 1: [Income Tax Act, section 29] is consequential to the creation of the BC Seniors' Home Renovation Tax Credit by this Bill.

SECTION 2: [Income Tax Act, Part 11] adds a new Part to implement the BC Seniors' Home Renovation Tax Credit.

SECTION 3: [Income Tax Act, Part 12] adds a new Part to implement the BC First-Time New Home Buyers' Bonus.

SECTION 4: [International Business Activity Act, section 22] is consequential to the creation of the BC Seniors' Home Renovation Tax Credit by this Bill.

SECTION 5: [International Business Activity Act, section 22] is consequential to the creation of the BC First-Time New Home Buyers' Bonus by this Bill.