Updates to Income and Seniors’ Benefits
May 2, 2023
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Newfoundland and Labrador Regulation 34/23, titled the Income Supplement and Seniors’ Benefit Regulations (Amendment) under the Income Tax Act, 2000, introduces changes to the framework governing income supplements and seniors’ benefits in the province. This regulation is authorized by section 68 of the Income Tax Act, 2000 and is aimed at refining how financial assistance is calculated for eligible individuals, particularly seniors.
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