O. Reg. 299/03: TAX MATTERS - INCREASES IN TAX RATES TO PAY FOR REBATES

 

ontario regulation 299/03

made under the

Municipal Act, 2001

Made: July 22, 2003
Filed: July 23, 2003
Printed in The Ontario Gazette: August 9, 2003

Amending O. Reg. 389/98

(Tax Matters — Increases in Tax Rates to Pay for Rebates)

1. (1) Subsection 1 (1) of Ontario Regulation 389/98 is amended by striking out “section 442.1 of the Act” and substituting “section 361 of the Act”.

(2) Subsection 1 (2) of the Regulation is revoked and the following substituted:

(2) The tax rate for a property class may be greater than would be allowed under paragraph 2 of subsection 311 (6) of the Act or paragraph 2 of subsection 312 (6) of the Act to the extent necessary to raise an amount sufficient to fund the rebates under section 361 of the Act on property in the property class.

2. (1) Subsection 2 (1) of the Regulation is amended by striking out “section 442.1 of the Act” in the portion before clause (a) and substituting “section 361 of the Act”.

(2) Clause 2 (1) (b) of the Regulation is amended by striking out “subsection 363 (20) of the Act” and substituting “subsection 308 (1) of the Act”.

(3) Subsection 2 (2) of the Regulation is revoked and the following substituted:

(2) The tax rates for the commercial classes may be greater than would be allowed under paragraph 2 of subsection 311 (6) of the Act or paragraph 2 of subsection 312 (6) of the Act to the extent necessary to raise an amount sufficient to fund the rebates described in subsection (1) on property in all the commercial classes subject to the requirement in subsection (3).

(4) Subsection 2 (3) of the Regulation is amended by striking out “section 363 of the Act” and substituting “section 308 of the Act”.

(5) Subsection 2 (4) of the Regulation is revoked and the following substituted:

(4) The tax rates for the industrial classes may be greater than would be allowed under paragraph 2 of subsection 311 (6) of the Act or paragraph 2 of subsection 312 (6) of the Act to the extent necessary to raise an amount sufficient to fund the rebates described in subsection (1) on property in all the industrial classes subject to the requirement in subsection (5).

(6) Subsection 2 (5) of the Regulation is amended by striking out “section 363 of the Act” and substituting “section 308 of the Act”.

 

Janet Lynne Ecker

Minister of Finance

Dated on: July 22, 2003.