Bill 134 explained in plain English
Budget Measures Act (Housing Price Stability and Ontario Seniors' Public Transit Tax Credit), 2017
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 41st Parliament, 2nd Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
Bill 134, the Budget Measures Act (Housing Price Stability and Ontario Seniors’ Public Transit Tax Credit), 2017, introduced an additional land transfer tax for foreign entities and taxable trustees in certain regions and created a public transit tax credit for seniors in Ontario.
This bill makes changes to two Ontario laws: the Land Transfer Tax Act and the Taxation Act, 2007. It introduces an additional tax on certain land transfers to foreign entities or taxable trustees within a specified region of Ontario, and it establishes a new refundable tax credit for seniors in Ontario who use public transit.
- Introduces an additional tax on the transfer of certain land properties within a specified region of Ontario if the buyer is a foreign entity or a taxable trustee.
- Establishes an Ontario seniors' public transit tax credit that is refundable and applies to eligible seniors for the 2017 and subsequent taxation years.
- Defines terms related to the land transfer tax, including 'designated land,' 'foreign corporation,' 'foreign entity,' 'foreign national,' 'Greater Golden Horseshoe Region,' 'specified region,' and 'taxable trustee.'
- Sets out rules for the additional land transfer tax, including exemptions for certain agreements made before April 21, 2017, and for specific classes or requirements.
- Allows for rebates of the additional land transfer tax under certain conditions.
- Establishes a new section in the Taxation Act, 2007, defining terms related to the seniors' public transit tax credit, such as 'eligible cash payment for specialized transportation services,' 'eligible individual,' and 'qualified Ontario transit organization.'
- Specifies the calculation of the seniors' public transit tax credit, including maximum amounts for different taxation years and the period of use for transit services.
- Amends existing legislation to reflect the new tax and credit measures.
- Purchasers of designated land within the specified region (particularly foreign entities and taxable trustees).
- Seniors (individuals aged 65 or older) who are Ontario residents and use public transit.
- The Minister of Finance (who has regulation-making authority under both Acts).
- Transferees of land in Ontario.
- Individuals and entities involved in conveyances of land.
- Transit organizations in Ontario.
- Obligation to pay an additional land transfer tax on certain conveyances of designated land within the specified region.
- Right to claim the Ontario seniors' public transit tax credit for eligible expenses.
- Obligation to provide additional information to the Minister of Finance regarding conveyances.
- Liability for offences related to false or misleading statements in tax documents.
- The additional land transfer tax applies to conveyances tendered for registration on or after April 21, 2017.
- Exemptions from the additional land transfer tax apply if the agreement of purchase and sale was entered into on or before April 20, 2017.
- The Ontario seniors' public transit tax credit applies for taxation years ending after December 31, 2016.
- The credit is $225 for taxation years ending after December 31, 2016, and before January 1, 2018.
- The credit is $450 for taxation years ending after December 31, 2017.
- The period of use for the seniors' public transit tax credit is from July 1, 2017, to December 31, 2017, for taxation years ending in that period.
- The bill received Royal Assent on June 1, 2017, and most provisions came into force on that date.
- An additional 15% tax (or prescribed rate) may be imposed on the value of consideration for certain land transfers to foreign entities or taxable trustees.
- The Ontario seniors' public transit tax credit is a refundable tax credit, potentially providing financial relief to eligible seniors.
- The maximum credit is $225 for 2017 and $450 for subsequent years.
- Making false or misleading statements in documents for the purpose of determining land transfer tax liability under subsection 2 (2.1) is an offense, with a potential fine of not more than $10,000.
- Persons acquiring a beneficial interest in land may be jointly and severally liable for tax imposed under subsection 2 (2.1) of the Land Transfer Tax Act.
- The definition of 'specified region' for the additional land transfer tax is subject to 'prescribed' areas by the Minister.
- Exemptions and rebates for the additional land transfer tax may depend on requirements that 'may be prescribed by the Minister.'
- The Minister of Finance has the authority to make regulations that clarify definitions and deem organizations as qualified Ontario transit organizations, or prescribe requirements for the seniors' transit tax credit.
- The calculation of tax on conveyances where land is used for non-residential purposes may be determined by the Minister to the extent considered practicable.
- The determination of whether a person is a 'senior' for the purpose of transit fares, passes, cards, or tickets is at the discretion of the qualified Ontario transit organization.
Adds definitions for 'designated land,' 'foreign corporation,' 'foreign entity,' 'foreign national,' 'Greater Golden Horseshoe Region,' 'specified region,' and 'taxable trustee.' It also introduces an additional tax (15% or a prescribed rate) on certain conveyances of designated land within the specified region to foreign entities or taxable trustees, effective April 21, 2017. The bill outlines special rules for this tax, including exemptions, rebates, and offenses for false statements. It also amends sections related to information required for conveyances and joint and several liability for the tax.
Source: SCHEDULE 1, Sections 1, 2, 2.1, 3, 4, 5, 5.0.3, and 7
Adds a new section (103.0.1) to establish a refundable Ontario seniors' public transit tax credit for eligible individuals. It defines various terms related to eligible transit services and organizations. The credit amount is set at $225 for the 2017 taxation year and $450 for subsequent years, calculated at 15% of eligible transit expenses. It also makes consequential amendments to sections 84 and 176 of the Act.
Source: SCHEDULE 2, Sections 1, 2, and 3
Is referenced for definitions of 'SIFT trust' and 'mutual fund trust' for the purpose of defining 'taxable trustee' under the Land Transfer Tax Act.
Source: SCHEDULE 1, Section 1
Is referenced for the definition of 'foreign national' under the Land Transfer Tax Act.
Source: SCHEDULE 1, Section 1
Is referenced for the definitions of 'specialized transportation service provider' and 'specialized transportation services' under the Taxation Act, 2007.
Source: SCHEDULE 2, Section 2
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
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Vote Summary
This bill does not have a published recorded division in the current official sources, so representative-by-representative vote counts are not shown.
No published representative vote breakdown
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Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
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