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O. Reg. 489/00: EXEMPTIONS: FOR CONVEYANCE TO FAMILY FARM CORPORATIONOR FAMILY BUSINESS CORPORATION

filed August 25, 2000 under Land Transfer Tax Act, R.S.O. 1990, c. L.6

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ONTARIO REGULATION 489/00

made under the

Land Transfer Tax Act

Made: August 23, 2000
Filed: August 25, 2000

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

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

1. Subsection 2 (2) of Regulation 697 of the Revised Regulations of Ontario, 1990 is revoked and the following substituted:

(2) If an exemption authorized by this section is claimed, the form approved by the Minister shall be completed by an officer of the transferee, attached to the conveyance being tendered for registration and filed with the Minister or the collector.

2. (1) Clause 3 (2) (b) of the Regulation is revoked and the following substituted:

(b) the form approved by the Minister is completed by an officer of the transferee described in the conveyance, indicating the requirements described in subsection (1) that have been met, and is given to the Minister.

(2) Subsection 3 (3) of the Regulation is amended by striking out “there shall be furnished to the Minister an affidavit made by an officer of the transferee in such form as the Minister shall require” and substituting “the form approved by the Minister shall be completed by an officer of the transferee and given to the Minister”.