BLG Electricity Markets News - Permanent Transfer Tax Exemption.Finance Minister Dwight Duncan has announced that the government intends to make the transfer tax exemption tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various permanent for transfers of electricity property within the public sector. For these purposes, the public sector means those purchasers who currently benefit from the temporary exemption which expired on October 17 2009 - being Hydro One, municipal corporations and municipal electricity utilities. This amendment will be of significant interest both to LDCs considering mergers and acquisitions, or transferring electricity property within the corporate group in situations where the transfer tax regulations do not currently provide an exemption. There was some speculation that the new electricity transfer tax regulation would be extended on a limited basis to the private sector. At the moment, the only type of transactions that will minimize transfer tax costs tax costs n. a motion to contest a claim for court costs submitted by a prevailing party in a lawsuit. It is called a "Motion to Tax Costs" and asks the judge to deny or reduce claimed costs. involving a private sector purchaser are those that involve the use of the PIL (Publishing Interchange Language) A standard for document interchange that defines the placement of text and graphics objects on the page. It does not address the content of the objects. PIL - Procedure Implementation Language. credit (against transfer tax), and long term leasing transactions that qualify under the leasing exemption in the transfer tax regulations, provided certain prescribed conditions are met. In this regard, BLG BLG Bulk Liquids and Gases BLG Borden Ladner Gervais LLP BLG Boys Like Girls (band) BLG Bremer Lagerhaus-Gesellschaft AG (Bremen, Germany) BLG Betalactoglobulin has completed the only lease structure to date involving the private sector. Click here to link to the Information Bulletin announcing the change. About BLG The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Mr Stephen Fyfe Borden Ladner Gervais Borden Ladner Gervais LLP (BLG for short) is a full service Canadian corporate law firm based in Toronto. The firm has over 700 lawyers and intellectual property agents, practising in offices in Toronto, Calgary, Vancouver, Ottawa, Montreal, and the Waterloo region. LLP LLP - Lower Layer Protocol Scotia Plaza 40 King Street West Toronto Ontario M5H 3Y4 CANADA Tel: 4163676000 Fax: 4163676749 E-mail: info@blgcanada.com URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : www.blgcanada.com Click Here for related articles (c) Mondaq Ltd, 2009 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com |
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