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O. Reg. 306/07: Co-operative Education Tax Credit

filed July 4, 2007 under Corporations Tax Act, R.S.O. 1990, c. C.40

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ontario regulation 306/07

made under the

corporations tax act

Made: June 5, 2007
Filed: July 4, 2007
Published on e-Laws: July 4, 2007
Printed in The Ontario Gazette: July 21, 2007

Amending O. Reg. 61/06

(Co-operative Education Tax Credit)

1. Subsection 2 (1) of Ontario Regulation 61/06 is revoked and the following substituted:

(1) An institution is an eligible educational institution for the purposes of section 43.4 of the Act if it satisfies one of the following conditions:

1. The institution is a university or college of applied arts and technology in Ontario, whose enrolment is counted for the purposes of calculating annual operating grants entitlements from the Government of Ontario. 

2. The institution is the Michener Institute of Applied Health Sciences.

3. The institution is the Ontario College of Art and Design. 

4. The institution is Redeemer University College.

2. Section 10 of the Regulation is amended by adding the following subsection:

(4.1) Despite subsection (1), an amount paid or payable before June 1, 2007 to a student of Redeemer University College or to an employment agency as consideration for the provision of services carried out by a student of Redeemer University College in a qualifying work placement is not an eligible expenditure for the purposes of section 43.4 of the Act.

3. This Regulation is deemed to have come into force on June 1, 2007.

Made by:

Gregory Sorbara

Minister of Finance

Date made: June 5, 2007.