O. Reg. 56/22: GENERAL

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ontario regulation 56/22

made under the

Assessment Act

Made: February 3, 2022
Filed: February 7, 2022
Published on e-Laws: February 7, 2022
Printed in The Ontario Gazette: February 26, 2022

Amending O. Reg. 282/98

(GENERAL)

1. (1) Subsection 45.1 (7) of Ontario Regulation 282/98 is amended by striking out “subsection (9)” and substituting “subsections (9) and (9.2)”.

(2) Subsection 45.1 (9) of the Regulation is amended by adding “Subject to subsection (9.2)” at the beginning.

(3) Section 45.1 of the Regulation is amended by adding the following subsections:

(9.1) In subsection (9.2),

“reference passenger total” means, with respect to an authority, the passenger total determined for the authority under subsection (3) for the 2021 taxation year or, if the authority and municipality had an agreement under subsection (5) for the 2020 and 2021 taxation years, the 2020 taxation year.

(9.2) If the passenger total for an authority determined under subsection (3) for the 2022 taxation year is less than the reference passenger total, the following rules apply:

1.  Subsection (9) does not apply with respect to the authority for the 2022 taxation year and subsequent taxation years, subject to paragraph 2.

2.  Subsection (9) resumes applying with respect to the authority for the taxation years that follow the first taxation year after 2022 for which the passenger total for the authority determined under subsection (3) is equal to or greater than the reference passenger total.

3.  For that first taxation year after 2022 for which the passenger total for the authority determined under subsection (3) is equal to or greater than the reference passenger total, the authority shall make a payment in lieu of taxes for the taxation year, for the purposes of subsection (7), in the amount that is equal to the lesser of,

i.  the amount determined under subsection (7) for the taxation year, and

ii.  105 per cent of the amount that would be determined under that subsection if a passenger total equal to the reference passenger total were used.

Commencement

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

Made by:
Pris par :

Le ministre des Finances,

Peter Bethlenfalvy

Minister of Finance

Date made: February 3, 2022
Pris le : 3 février 2022

 

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