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| | ELECTRICITY ACT, 1998 UPDATE FOR MUNICIPAL ELECTRICITY UTILITIES (Site not responding. Last check: 2007-11-03) |
 | | The Electricity Act, 1998, which received royal assent on October 30, 1998, provides for the payment of a transfer tax by municipalities and municipal electricity utilities that sell real or personal property used in connection with generating, transmitting, distributing or retailing electricity. |
 | | To facilitate transfers between and amalgamations of municipal electricity utilities, the transfer tax will not apply to transfers from one municipality or municipal electricity utility to another until November 7, 2000. |
 | | A transferor is permitted under the Electricity Act, 1998 to deduct certain amounts in determining its transfer tax liability in respect of a particular transfer. |
| www.fin.gov.on.ca /english/tax/1999/tuelect.html (559 words) |
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