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Volume 54, No. 6

B.C. Reg. 58/2011

The British Columbia Gazette,

Part II

April 5, 2011

B.C. Reg. 58/2011 , deposited March 25, 2011, pursuant to the PROPERTY TRANSFER TAX ACT [Section 37 (2) (b)]. Order in Council 107/2011, approved and ordered March 24, 2011.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that, effective April 1, 2011, the attached Treaty First Nation Property Transfer Tax Exemption Regulation is made.

— K. FALCON, Minister of Finance and Deputy Premier ; I. CHONG, Presiding Member of the Executive Council .

TREATY FIRST NATION PROPERTY TRANSFER TAX EXEMPTION REGULATION

Contents

Definitions

Return exemptions

Property transfer tax exemption

Definitions

1 In this regulation:

"Act" means the Property Transfer Tax Act ;

"application" means an application to the registrar under the Land Title Act;

"effective date" , in respect of a final agreement, means the date the final agreement comes into effect in accordance with its terms.

Return exemptions

2 The following persons are exempt in relation to the specified transaction from the requirement under

section 2 (1) (

b) of the Act to file a return:

(

a) a treaty first nation, and any other person, in respect of an application, made on the effective date of the treaty first nation's final agreement, for registration of a taxable transaction for which the treaty first nation or other person is exempt from taxation under that final agreement or

section 2.2 (2) of the Act;

(

b) a person, other than a member of the treaty first nation, in respect of an application, made on the effective date of the treaty first nation's final agreement, for registration of a leasehold interest in the treaty first nation's treaty lands, which interest is provided under the final agreement to replace a leasehold interest in those lands held by the person before the effective date.

Property transfer tax exemption

3 A person referred to in

section 2 (

b) is exempt from tax in relation to the taxable transaction for which the person is exempt under that

section from the requirement to file a return.

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