O. Reg. 134/17: TAX MATTERS - DEFINITION OF BUSINESS PROPERTY AND RESIDENTIAL PROPERTY
filed May 11, 2017 under Education Act, R.S.O. 1990, c. E.2
Skip to contentontario regulation 134/17
made under the
Education Act
Made: May 11, 2017
Filed: May 11, 2017
Published on e-Laws: May 12, 2017
Printed in The Ontario Gazette: May 27, 2017
Amending O. Reg. 394/98
(TAX MATTERS - DEFINITION OF BUSINESS PROPERTY AND RESIDENTIAL PROPERTY)
1. Sections 1 and 2 of Ontario Regulation 394/98 are revoked and the following substituted:
Business property
1. The following classes of real property are prescribed for the purposes of clause (b) of the definition of “business property” in section 257.5 of the Act:
1. A property class that the council of a municipality opts to have apply in the municipality under regulations made under the Assessment Act that contains property that would otherwise be in the commercial, industrial or pipe line property class prescribed under that Act.
2. The landfill property class prescribed under the Assessment Act.
Residential property
2. The following class of real property is prescribed for the purposes of clause (b) of the definition of “residential property” in section 257.5 of the Act:
1. A property class that the council of a municipality opts to have apply in the municipality under regulations made under the Assessment Act that contains property that would otherwise be in the farm, managed forests, residential or multi-residential property class prescribed under that Act.
Commencement
2. This Regulation comes into force on the later of January 1, 2017 and the day it is filed.
Made by:
Pris par :
Le ministre des Finances,
Charles Sousa
Minister of Finance
Date made: May 11, 2017
Pris le : 11 mai 2017