O. Reg. 320/05: Exemption(s) - For Conveyance to Family Farm Corporation or Family Business Corporation

 

ontario regulation 320/05

made under the

Land Transfer Tax Act

Made: June 1, 2005
Filed: June 13, 2005
Printed in The Ontario Gazette: July 2, 2005

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

(Exemption(s) — For Certain Conveyances of Family Farms or Family Businesses)

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 “or a same-sex partner”.

(2) Clause (a) of the definition of “family farm corporation” in subsection 1 (1) of the Regulation is amended by striking out “or a same-sex partner”.

(3) Clause (c) of the definition of “farming assets” in subsection 1 (1) of the Regulation is revoked and the following substituted:

(c) the building in which a shareholder or one or more members of his or her family reside who are engaged in farming if that building is on land that is used or is contiguous to land used by that shareholder or those members of his or her family,

(4) The definition of “same-sex partner” in subsection 1 (1) of the Regulation is revoked.

(5) The definition of “spouse” in subsection 1 (1) of the Regulation is revoked.

2. (1) Subsection 2 (1) of the Regulation is amended by striking out “or a same-sex partner” in the portion before clause (a).

(2) Clause 2 (1) (a) of the Regulation is amended by striking out “or a same-sex partner”.

(3) Clause 2 (1) (b) of the Regulation is amended by striking out “or a same-sex partner”.

3. (1) Subsection 2.1 (1) of the Regulation is amended by striking out “or a same-sex partner” wherever it appears in the portion before clause (a).

(2) Clause 2.1 (1) (a) of the Regulation is amended by striking out “or a same-sex partner”.

(3) Clause 2.1 (1) (b) of the Regulation is amended by striking out “or a same-sex partner”.

4. (1) Subsection 3 (1) of the Regulation is amended by striking out “or a same-sex partner” in the portion before clause (a).

(2) Clause 3 (1) (a) of the Regulation is amended by striking out “or a same-sex partner”.

(3) Clause 3 (1) (b) of the Regulation is amended by striking out “or a same-sex partner”.