p42 s2 bill 21 b021 e.pdf

Ontario — Bills

2ND SESSION, 42ND LEGISLATURE, ONTARIO ELIZABETH II, 2021 Bill

An Act to amend the Taxation Act, 2007 to provide for a non-refundable tax credit to encourage tourism within Ontario Mr. W. Gates Private Member’s Bill 1st Reading October 18, 2021 2nd Reading 3rd Reading Royal Assent Bill

An Act to amend the Taxation Act, 2007 to provide for a non-refundable tax credit to encourage tourism within Ontario Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows: 1 Subsection 16 (2) of the Taxation Act, 2007 is amended by striking out “21.1 and 22” at the end and substituting “21.1, 22 and 103.1.3”. 2 The Act is amended by adding the following section: Travel Ontario tax credit 103.1.3

(1) An eligible person who is an individual and who was resident in Ontario on the last day of a taxation year ending after December 31, 2019 may deduct from the amount of tax otherwise payable for the year under D ivision B of

Part II an Ontario tourism tax credit not exceeding $1,000. Regulations

(2) The Lieutenant Governor in Council may make regulations prescribing any rules the Lieutenant Governor in Council considers necessary or advisable for the purposes of the proper administration of the credit under this section, including rules respecting the receipts and other information a person may be required to provide in connection with this section. Commencement This Act comes into force on the day it receives Royal Assent.

Short title The

short title of this Act is the Taxation Amendment Act (Travel Ontario Tax Credit), 2021. ______________ EXPLANATORY NOTE The Bill amends the Taxation Act, 2007 to provide for a non- refundable tax credit of up to $1,000 for residents of Ontario for travel in Ontario for the purposes of tourism.

Document details

Collection	Ontario — Bills
Citation	p42 s2 bill 21 b021 e.pdf
Type	bill
Volume / chapter	p42 s2 bill 21 b021 e.pdf
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	684fe8d364aa5a1b58931f4d3811f1d05c23035b

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