O. Reg. 54/01: GENERAL

 

ontario regulation 54/01

made under the

assessment act

Made:  March 8, 2001
Filed:  March 8, 2001
Printed in The Ontario Gazette: March 24, 2001

Amending O. Reg. 282/98

(General)

1. (1) Paragraph 2 of subsection 3 (1) of Ontario Regulation 282/98 is amended by adding the following subparagraph:

x. buildings used exclusively for the purposes of storing private aircraft and land on which those buildings are located.

(2) Section 3 of the Regulation is amended by adding the following subsections:

(4) In subparagraph 2 x of subsection (1),

“private aircraft” means an aircraft that is owned by one or more individuals and used exclusively for the recreational purposes of the owner or owners and not for any commercial purposes.

(5) If the assessment corporation requests the owner of land to verify that all aircraft stored in buildings are private aircraft, the owner shall do so before the land and buildings are classified in the residential/farm property class under subparagraph 2 x of subsection (1).

(6) Subparagraph 2 x of subsection (1) and subsections (4) and (5) apply with respect to the 1998 and subsequent taxation years.

2. Table 5 of the Regulation is revoked and the following substituted:

TABLE 5

OFFSHORE PIPE LINES

 

 

3. Table 9 of the Regulation is amended by striking out “79” in the second column opposite to “1975” and substituting “49”.

James M. Flaherty

Minister of Finance

Dated on March 8, 2001.

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