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08 May 2018

Ontario files regulations to facilitate land transfer tax compliance

Ontario filed Regulation 343/18, Timing of Tax Payable Under Subsection 3(2) of the Act, on April 26, in accordance with the Land Transfer Tax Act (LTTA). This regulation sets out quarterly filing requirements for dispositions of a beneficial interest in land that change the composition of certain trusts and partnerships. These requirements apply to qualifying dispositions occurring on or after January 1, 2018.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.

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Document ID: 2018-0964

 

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