O. Reg. 118/00: EXEMPTIONS: FOR CONVEYANCE TO FAMILY FARM CORPORATION OR FAMILY BUSINESS CORPORATION

 

ONTARIO REGULATION 118/00

made under the

Land Transfer Tax Act

Made: February 16, 2000
Filed: February 16, 2000

Amending Reg. 697 of R.R.O. 1990

(Exemption(s):  For Conveyance to Family Farm Corporation or Family Business Corporation)

1. (1) The definition of “family business corporation ” in subsection 1 (1) of Regulation 697 of the Revised Regulations of Ontario, 1990 is amended by striking out “a member of the family of each transferor” and substituting “a member of the family or a same–sex partner of each transferor”.

(2) Clause (a) of the definition of “family farm corporation” in subsection 1 (1) of the Regulation is amended by striking out “a member of the family of each transferor” and substituting “a member of the family or a same–sex partner of each transferor”.

(3) Clause (c) of the definition of “farming assets” in subsection 1 (1) of the Regulation is amended by striking out “shareholder or member or members of his or her family” wherever it occurs and substituting in each case “shareholder, member or members of his or her family or his or her same–sex partner”.

(4) Subsection 1 (1) of the Regulation is amended by adding the following definition:

“same–sex partner” means same–sex partner as defined in section 29 of the Family Law Act;

2. (1) Subsection 2 (1) of the Regulation is amended by striking out “a member of the family of the other” in the portion before clause (a) and substituting “a member of the family or a same–sex partner of the other”.

(2) Clause 2 (1) (a) of the Regulation is amended by striking out “a member of the family” and substituting “a member of the family or a same–sex partner”.

(3) Clause 2 (1) (b) of the Regulation is amended by striking out “a member of the family” and substituting “a member of the family or a same–sex partner”.

3. (1) Subsection 3 (1) of the Regulation is amended by striking out “a member of the family of the other” in the portion before clause (a) and substituting “a member of the family or a same–sex partner of the other”.

(2) Clause 3 (1) (a) of the Regulation is amended by striking out “a member of the family” and substituting “a member of the family or a same–sex partner”.

(3) Clause 3 (1) (b) of the Regulation is amended by striking out “a member of the family” and substituting “a member of the family or a same–sex partner”.

4. This Regulation comes into force on the day section 32 of the Amendments Because of the Supreme Court of Canada Decision in M. v. H. Act, 1999 comes into force.