Definitions

1   In this regulation:

"eligible amount" means

(a) eligible interest, or

(b) an amount imposed as a fine or penalty to the extent that the amount is determined by calculating or otherwise incorporates eligible interest;

"eligible interest" means interest that is calculated in relation to any part of the remission period;

"remission period" means the period that begins on March 24, 2020 and ends on September 30, 2020.

Application

2   The following Acts are specified for the purposes of section 3 of this regulation:

(a) the Carbon Tax Act;

(b) the Employer Health Tax Act;

(c) the Home Owner Grant Act;

(d) the Insurance Premium Tax Act;

(e) the International Business Activity Act;

(f) the Logging Tax Act;

(g) the Mineral Land Tax Act;

(h) the Mineral Tax Act;

(i) the Motor Fuel Tax Act;

(j) the Petroleum and Natural Gas Act;

(k) the Property Transfer Tax Act;

(l) the Provincial Sales Tax Act;

(m) the Social Service Tax Act;

(n) the Speculation and Vacancy Tax Act;

(o) the Taxation (Rural Area) Act;

(p) the Tobacco Tax Act.

Remission of interest

3   Authorization is given for the remission of any of the following amounts that is paid or payable to the government:

(a) an eligible amount that is imposed or authorized to be imposed under an Act specified in section 2 of this regulation, whether directly or as that Act is applied by another enactment;

(b) an eligible amount that is imposed or authorized to be imposed under any of the following Acts and made subject by that Act to administration and enforcement under the Taxation (Rural Area) Act;

(i) the South Coast British Columbia Transportation Authority Act:

(ii) the University Endowment Land Act.