Bill 53 2012

An Act to amend the Taxation Act, 2007 with respect to the payment of the Ontario Trillium Benefit

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.  (1)  Subsection 103.3 (3) of the Taxation Act, 2007 is amended by adding "Subject to subsection (3.1)" at the beginning.

   (2)  Section 103.3 of the Act is amended by adding the following subsections:

Single payment

   (3.1)  If the total amount of an individual's Ontario Trillium Benefit is at least $2 but not more than $360 for the 12 months that relate to a particular base taxation year, the payment to the individual shall be made in a single payment if the individual so elects by designating his or her preference in his or her return of income under this Act for that base taxation year.

Same, regulations

   (3.2)  The Minister of Finance may make regulations providing for transitional matters arising from the coming into force of subsection (3.1).

Commencement

   2.  This Act comes into force on a day to be named by proclamation of the Lieutenant Governor.

Short title

   3.  The short title of this Act is the Taxation Amendment Act (Payment of the Ontario Trillium Benefit), 2012.

EXPLANATORY NOTE

The Taxation Act, 2007 is amended to provide that an individual who is entitled to receive the Ontario Trillium Benefit for a particular year may elect to receive the benefit in a single payment rather than monthly.