ONTARIO regulation 26/03

made under the

financial administration act

Made: February 3, 2003
Filed: February 5, 2003
Printed in The Ontario Gazette: February 22, 2003

non-cash expenses

Definition

1. For the purposes of the definition of “non-cash expense” in section 1 of the Act,

“non-cash expense” means the amount recognized as an expense in a fiscal year on account of any of the following:

1. The reduction of a prepaid expense.

2. Amortization of a capital asset.

3. A loss on the disposition of a capital asset.

4. A loss on the unusual loss of a capital asset.

5. Bad debt expense.

6. Imputed interest on a loan bearing interest below the prevailing market rate.

Statutory appropriation for certain non-cash expenses

2. Non-cash expenses described in paragraphs 2, 4 and 5 of the definition of “non-cash expense” in section 1 are prescribed for the purposes of subsection 11.1 (3) of the Act.

Commencement

3. This Regulation comes into force on April 1, 2003.