The Right Choices for Equity in Education Act (Budget Measures), 2003 Ecker, Hon. Janet Minister of Finance — Bill 53 (37th Parliament, 4th Session)

Bill 53, 37-4

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Bill 53, The Right Choices for Equity in Education Act (Budget Measures), 2003

Ecker, Hon. Janet Minister of Finance

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Status

Debates

Original

Royal Assent

[37] Bill 53 Royal Assent (PDF)

Bill 53 2003

An Act respecting the

equity in education tax credit

Her Majesty, by and with the advice and consent of the Legislative

Assembly of the Province of Ontario, enacts as follows:

1. Subsection 8.4.2 (3) of the Income Tax Act ,

as enacted by the Statutes of Ontario, 2001,

chapter 8,

section 41 and

amended by 2002,

chapter 22,

section 109, is repealed and the following

substituted:

Appropriate percentage

(3) For the purposes of "A" in subsection (2), the following is

the appropriate percentage for the taxation year indicated:

1. For a taxation year that commences after December 31, 2001 and ends

before January 1, 2003, 10 per cent.

2. For a taxation year that commences after December 31, 2002 and ends

before January 1, 2004, 20 per cent.

3. For a taxation year that commences after December 31, 2003 and ends

before January 1, 2005, 30 per cent.

4. For a taxation year that commences after December 31, 2004 and ends

before January 1, 2006, 40 per cent.

5. For a taxation year that commences after December 31, 2005, 50 per

cent.

Commencement

2. This Act comes into force on the day it receives

Royal Assent.

Short title

3. The

short title of this Act is The Right Choices

for Equity in Education Act (Budget Measures), 2003 .

EXPLANATORY NOTE

This Explanatory Note was written as a reader's aid to Bill 53 and

does not form part of the law. Bill 53 has been enacted as

Chapter 5 of the

Statutes of Ontario,

Section 8.4.2 of the Income Tax Act establishes the equity in

education tax credit. The Bill re-enacts subsection 8.4.2 (3) which sets out

the phase-in of the rate of the tax credit. The tax credit is calculated as a

percentage of eligible fees. Eligible fees are the lesser of the tuition fees

paid and $7,000 per child ($3,500 for a child of kindergarten age).

The amendment provides that the rate of the tax credit will be 20 per cent

for 2003, 30 per cent for 2004, 40 per cent for 2005 and 50 per cent for 2006

and subsequent years.

[37] Bill 53 Original (PDF)

Bill 53 2003

An Act respecting the

equity in education tax credit

Her Majesty, by and with the advice and consent of the Legislative

Assembly of the Province of Ontario, enacts as follows:

1. Subsection 8.4.2 (3) of the Income Tax Act ,

as enacted by the Statutes of Ontario, 2001,

chapter 8,

section 41 and

amended by 2002,

chapter 22,

section 109, is repealed and the following

substituted:

Appropriate percentage

(3) For the purposes of "A" in subsection (2), the following is

the appropriate percentage for the taxation year indicated:

1. For a taxation year that commences after December 31, 2001 and ends

before January 1, 2003, 10 per cent.

2. For a taxation year that commences after December 31, 2002 and ends

before January 1, 2004, 20 per cent.

3. For a taxation year that commences after December 31, 2003 and ends

before January 1, 2005, 30 per cent.

4. For a taxation year that commences after December 31, 2004 and ends

before January 1, 2006, 40 per cent.

5. For a taxation year that commences after December 31, 2005, 50 per

cent.

Commencement

2. This Act comes into force on the day it receives

Royal Assent.

Short title

3. The

short title of this Act is The Right Choices

for Equity in Education Act (Budget Measures), 2003 .

EXPLANATORY NOTE

Section 8.4.2 of the Income Tax Act establishes the equity in

education tax credit. The Bill re-enacts subsection 8.4.2 (3) which sets out

the phase-in of the rate of the tax credit. The tax credit is calculated as a

percentage of eligible fees. Eligible fees are the lesser of the tuition fees

paid and $7,000 per child ($3,500 for a child of kindergarten age).

The amendment provides that the rate of the tax credit will be 20 per cent

for 2003, 30 per cent for 2004, 40 per cent for 2005 and 50 per cent for 2006

and subsequent years.

Date Bill stage Activity Committee

June 26, 2003

Royal Assent

Royal Assent received

June 25, 2003

Third Reading

Carried on division

June 19, 2003

Ordered for Third Reading

June 19, 2003

Second Reading

Carried on division

June 17, 2003

Time allocated

June 16, 2003

Second Reading

Debate

June 12, 2003

Second Reading

Debate

June 10, 2003

Second Reading

Debate

May 26, 2003

First Reading

Carried on division

Debates and Progress

First Reading

May

26, 2003

Minister's

Stament and Mr.

Phillips and Mr.

Hampton

Carried on division

Second Reading

Debate

June

10, 2003

Mr. Chudleigh, Mr. O'Toole, Mr. Hudak, Mr. Patten, Mr.

Christopherson

June

12, 2003

Mr. Baird, Mr. Barrett, Mr. Klees, Mr. Gill, Mr. Ruprecht, Ms.

Churley, Mr. Hardeman, Mr. Colle, Mr. Phillips, Mr. Kennedy, Mr.

Kormos, Mrs. Molinari, Mr. Flaherty, Mr. Marchese

June

16, 2003

Mr. Clark, Ms. Di Cocco, Mr. Prue, Mr. Murdoch, Mr. Johnson, Mr.

Sterling, Mr. Parsons, Mr. Bryant, Mr. Maves, McMeekin, Ms.

Mushinsky, Ms. Pupatello, Mr. Bradley

Time allocation

June

17, 2003

Mr. Clark, Mr. Kennedy, Mr. Marchese, Mr. Galt, Mr. Gerretsen,

Mr. Maves, Mr. Cordiano, Mrs. Molinari, Mr. Bradley

Declared carried

June

18, 2003

Vote deferred

June

19, 2003

Carried on division and ordered for third reading

Committee

Third Reading

June

24, 2003

Vote deferred

June

25, 2003

Carried on division

Royal Assent : Thursday, June 26, 2003

Coming into force :Royal Assent.

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Document details

Collection	Ontario — Bills
Citation	Bill 53, 37-4
Type	bill
Volume / chapter	p37 s4 bill 53 html
Language	en
Format	html
Source	PROVINCIAL
Identifier	b49f1cc472af31259edd3b4d1d1f83103d35af7a

Source file is stored in the law ingest library (html).