O. Reg. 69/14: GENERAL

 

ontario regulation 69/14

made under the

Assessment Act

Made: March 20, 2014
Filed: March 24, 2014
Published on e-Laws: March 25, 2014
Printed in The Ontario Gazette: April 12, 2014

Amending O. Reg. 282/98

(GENERAL)

1. Ontario Regulation 282/98 is amended by adding the following section:

Third Party Signs

45.5 (1) For the 2014 and subsequent taxation years, the contribution to the current value of a property that is attributable to a third party sign located on the property shall be determined using the replacement cost new approach to valuation of the sign, less depreciation, with no value added for rent or other consideration payable in respect of the sign or its placement.

(2) Subsection (1) is deemed to have applied for the 2009 and subsequent taxation years with respect to third party signs located on the following properties:

1. Airport Road, Mississauga: roll number 2105 050 113 60126 0000.

2. 595 Bay Street, Toronto: roll number 1904 066 460 00005 0000.

3. 10 Dundas Street East, Toronto: roll number 1904 066 450 00050 0000.

4. 33 Dundas Street East, Toronto: roll number 1904 066 240 01001 0000.

5. 1 Dundas Street West, Toronto: roll number 1904 066 080 03610 0000.

6. 279 to 283 Yonge Street, Toronto: roll number 1904 066 220 01900 0000.

(3) For the purposes of this section, a sign is a third party sign if it advertises, promotes or directs attention to businesses, goods, services, matters or activities that are not available at, or related to, the premises where the sign is located.  It is a third party sign even if it is not used exclusively for those purposes.

(4) A sign displaying the name of a business or entity at a building that is named after that business or entity is not a third party sign for the purposes of this section.

Commencement

2. This Regulation comes into force on the day it is filed.

Made by:

Charles Sousa

Minister of Finance

Date made: March 20, 2014.