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O. Reg. 395/09: Transfer Tax on Municipal Electricity Property

filed October 19, 2009 under Electricity Act, 1998, S.O. 1998, c. 15, Sched. A

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ontario regulation 395/09

made under the

electricity act, 1998

Made: October 19, 2009
Filed: October 19, 2009
Published on e-Laws: October 20, 2009
Printed in The Ontario Gazette: November 7, 2009

Amending O. Reg. 124/99

(Transfer Tax on Municipal Electricity Property)

1. Section 3 of Ontario Regulation 124/99 is amended by adding the following subsection:

(21) Subsection 94 (1) of the Act does not apply to a transfer of an interest in property described in subsection 94 (1), (1.1) or (2) of the Act if the following conditions are satisfied:

1. The transfer is made to,

i. a municipal corporation in Ontario that is exempt under subsection 149 (1) of the Income Tax Act (Canada) from the payment of tax under that Act at the time of the transfer,

ii. a municipal electricity utility that is exempt under subsection 149 (1) of the Income Tax Act (Canada) from the payment of tax under that Act at the time of the transfer, or

iii. Hydro One Inc., Ontario Power Generation, Inc. or a subsidiary of either of them (the “transferee”) and the transferee is exempt under subsection 149 (1) of the Income Tax Act (Canada) from the payment of tax under that Act at the time of the transfer.

2. The transfer is made after October 16, 2009.

2. This Regulation is deemed to have come into force on October 17, 2009.

Made by:

Dwight Douglas Duncan

Minister of Finance

Date made: October 19, 2009.