Act

Amendment to O. Reg. 1012 of the Retail Sales Tax Act

Regulation Number(s):
1012
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:
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”.
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
Effective Date:
December 1, 2010
Decision:
Approved