News Release

FREDERICTON (GNB) – The provincial government is reducing red tape for businesses using tax-exempt fuel and for persons buying vehicles through private sales.

"We are working toward the government’s commitment to establish a Smart Regulation system to reduce red tape in the form of archaic, outdated, unenforceable and unnecessary regulations." said Finance Minister Blaine Higgs.

As a result of a comprehensive review of the General Regulation under the Gasoline and Motive Fuel Tax Act, the Department of Finance is significantly reducing the multi-page annual tax-exempt usage report that businesses using tax-exempt fuel are required to complete. Additionally, these businesses will now be able to report how much tax-exempt fuel they use based on their fiscal periods rather than adopting the provincial government’s fiscal year. These changes will be effective by July 1 and benefit more than 2,400 businesses.

"The Canadian Federation of Independent Businesses and the holders of various permits issued by the Department of Finance have asked the provincial government to shorten the application so that they can spend more time working on their business and less time filling out paperwork," said Higgs.

As a result of a similar review of the general regulations under the Harmonized Sales Tax Act, the provincial government will eliminate the requirement for purchasers of used motor vehicles to obtain an appraisal if their vehicle's book value is not readily available.

"We will implement a new process which will allow Service New Brunswick to make a common-sense estimate of a vehicle's value," said Higgs. "This smart regulation will save New Brunswickers time and money and will not have a significant impact on provincial revenues."

Taxpayers will still be able to seek an appraisal and submit it in situations where they feel that it is beneficial for them to do so. This measure will be in place by this fall.

"The Smart Regulation initiative seeks to minimize the time and costs associated with complying with regulatory requirements and obtaining government services while continuing to look out for the best interests of the environment, the economy and New Brunswickers," said Higgs.