Act
Amendment to O. Reg. 1012 of the Retail Sales Tax Act
Regulation Number(s):
1012
2/11
2/11
Instrument Type:
Act
Bill or Act:
Retail Sales Tax Act
Summary of Decision:
The regulation sets out criteria which must be satisfied by a benefit plan to meet the definition of a qualifying trust. It provides that a trust is a qualifying trust if it qualifies as "employee life and health trust" under the Income Tax Act (Canada), if read without reference to the words “throughout the taxation year”.
Further Information:
Retail Sales Tax Act
Proposal Number:
11-MOF002
Posting Date:
January 17, 2011
Summary of Proposal:
The regulation sets out criteria which must be satisfied by a benefit plan to meet the definition of a qualifying trust.
It provides that a trust is a qualifying trust if it qualifies as "employee life and health trust" under the Income Tax Act (Canada), if read without reference to the words “throughout the taxation year”.
It provides that a trust is a qualifying trust if it qualifies as "employee life and health trust" under the Income Tax Act (Canada), if read without reference to the words “throughout the taxation year”.
Contact Address:
Clarence Tong
Ministry of Finance
Corporate and Commodity Taxation Branch
2nd Floor, Frost Building North, 95 Grosvenor Street
Toronto, Ontario
M7A 1Z1
Email: clarence.tong@ontario.ca
Phone: (416) 314-9410
Ministry of Finance
Corporate and Commodity Taxation Branch
2nd Floor, Frost Building North, 95 Grosvenor Street
Toronto, Ontario
M7A 1Z1
Email: clarence.tong@ontario.ca
Phone: (416) 314-9410
Royal Assent Date:
December 1, 2010
Decision:
Approved