Bill 226 2009

An Act to amend the Taxation Act, 2007 with respect to live performances

Note: This Act amends the Taxation Act, 2007.  For the legislative history of the Act, see the Table of Consolidated Public Statutes – Detailed Legislative History at www.e-Laws.gov.on.ca.

Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

   1.  Subsection 172 (1) of the Taxation Act, 2007 is amended by adding the following clause:

(e.1) providing for tax credits for live performances, rules of eligibility for the tax credit, methods of claiming and obtaining the tax credit, and any other matter relating to the tax credit;

Commencement

   2.  This Act comes into force six months after the day it receives Royal Assent.

Short title

   3.  The short title of this Act is the Taxation Amendment Act (Live Performances), 2009.

EXPLANATORY NOTE

The Bill amends the Taxation Act, 2007 to give the Lieutenant Governor in Council the power to create regulations providing for tax credits for live performances.  The Bill also gives the Lieutenant Governor in Council the power to specify the rules of eligibility for the tax credit, methods of claiming and obtaining the tax credit, and any other matter relating to the tax credit.