Regulation - LGIC

Proposed amendment to Ontario Regulation 207/99 made under the Electricity Act, 1998 (Payments in Lieu of Corporate Taxes)

Regulation Number(s):
207/99
Instrument Type:
Regulation - LGIC
Bill or Act:
Electricity Act, 1998
Summary of Decision:
The amendments to Ontario Regulation 207/99 made under the Electricity Act, 1998 implement the 2015 Budget proposals to (i) provide time-limited PILs relief for the period beginning January 1, 2016, and ending December 31, 2018 by exempting capital gains arising under the PILs Deemed Disposition Rules and (ii) adopt federal anti-avoidance measures designed to prevent the avoidance of PILs through direct or indirect dispositions of partnership interests.
Further Information:
Click to open  Proposed amendment to Regulation 207/99    (Download Adobe Reader)
Click to open Electricity Act, 1998
Click to open O. Reg. 207/99: Payments In Lieu Of Corporate Taxes
Click to open O. Reg. 112/16 as filed, amends O. Reg. 207/99
Proposal Number:
15-MOF021
Posting Date:
September 18, 2015
Summary of Proposal:
The proposed amendments to Ontario Regulation 207/99 made under the Electricity Act, 1998 are required to implement the 2015 Budget proposals to (i) provide time-limited PILs relief for the period beginning January 1, 2016, and ending December 31, 2018 by exempting capital gains arising under the PILs Deemed Disposition Rules and (ii) adopt federal anti-avoidance measures designed to prevent the avoidance of PILs through direct or indirect dispositions of partnership interests.
Contact Address:
Clarence Tong
Corporate and Commodity Taxation Branch
Frost Bldg N
2nd Flr
95 Grosvenor St
Toronto ON M7A1Z1
Effective Date:
April 23, 2015
Decision:
Approved

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