4.0.2 (1) Subject to subsection (6), each amount expressed in dollars under the following provisions shall be adjusted in accordance with this section for each taxation year ending after December 31, 2000: 1. Subsections 3 (1), 4 (3), 4.0.1 (2) to (6), (8), (10), (11), (11.1), (18), (19), (20), (23), (23.1), (23.2) and 7 (2.4) and (2.5). 1.1 Clause (a) of the definition of “II” in subsection 4.0.1 (10.1). 2. Paragraphs 118.2 (2) (b.1), (l.5) and (l.7) of the Federal Act, as they apply in determining the amount of an individual’s medical expense credit deductible under paragraph 17 of subsection 4 (3.1).  2004, c. 31, Sched. 19, s. 2 (1, 2); 2006, c. 33, Sched. N, s. 3 (1); 2015, c. 38, Sched. 10, s. 2 (1). Calculation of adjusted amount (2) Each amount referred to in subsection (1) shall be adjusted to the amount determined using the formula, A + [A × (B/C – 1)] in which, “A” is the amount that would have been used for the previous taxation year if it had not been rounded to a whole dollar, “B” is the Consumer Price Index for the 12-month period that ended on September 30 of the previous year, and “C” is the Consumer Price Index for the 12-month period immediately preceding the 12-month period mentioned in the description of “B”. 2004, c. 31, Sched. 19, s. 2 (1). Same (3) For the purposes of subsection (2), the amount of “(B/C – 1)” shall be adjusted each year in such manner as may be prescribed and rounded to the nearest thousandth or, where the result obtained is equidistant, to the higher thousandth.  2004, c. 31, Sched. 19, s. 2 (1). Rounding (4) Where an amount as adjusted under this section is not a multiple of one dollar, it shall be rounded to the nearest multiple of one dollar or, where it is equidistant, to the higher dollar.  2004, c. 31, Sched. 19, s. 2 (1). Consumer Price Index (5) In this section, the Consumer Price Index for any 12-month period is the result arrived at by, (a) aggregating the Consumer Price Index for Ontario as published by Statistics Canada under the authority of the Statistics Act (Canada), adjusted in such manner as is prescribed, for each month in that period; (b) dividing the aggregate obtained under clause (a) by 12; and (c) rounding the result obtained under clause (b) to the nearest one-thousandth or, where the result obtained is equidistant from two consecutive thousandths, to the higher thousandth.  2004, c. 31, Sched. 19, s. 2 (1). Exceptions (6) The following amounts shall not be adjusted under this section: 1. The dollar amounts referred to in subsections 4.0.1 (5), (6), (11.1) and (18), as those subsections apply for a taxation year ending after December 31, 2000 and before January 1, 2002. 2. The dollar amounts referred to in a paragraph of subsection 3 (1) that are applicable for a taxation year ending before January 1, 2005. 3. The dollar amounts referred to in subsections 7 (2.4) and (2.5) that are applicable for a taxation year ending before January 1, 2005. 4. The dollar amounts referred to in subsection 4.0.1 (23.1) that apply for a taxation year ending before January 1, 2005 and the dollar amounts referred to in subsection 4.0.1 (23.2) that apply for a taxation year ending before January 1, 2006. 5. The dollar amount referred to in clause (a) of the definition of “II” in subsection 4.0.1 (10.1) that applies for a taxation year ending before January 1, 2006. 2004, c. 31, Sched. 19, s. 2 (1, 3); 2006, c. 33, Sched. N, s. 3 (2); 2015, c. 38, Sched. 10, s. 2 (2). Regulations (7) The Lieutenant Governor in Council may make regulations prescribing rules governing the adjustment of dollar amounts in provisions of this Act not listed in subsection (1) or in provisions of the Federal Act that apply in determining amounts for the purposes of this Act.  2004, c. 31, Sched. 19, s. 2 (1). Section Amendments with date in force (d/m/y) 2000, c. 42, s. 52
- 21/12/2000 2001, c. 8, s. 38 (1-3)
- 1/01/2001 2003, c. 7, s. 11
- 1/01/2004 2004, c. 16, s. 3
- 1/01/2004; 2004, c. 31, Sched. 19, s. 2 (1) - 1/01/2002; 2004, c. 31, Sched. 19, s. 2 (2, 3) - 31/03/2006 2005, c. 31, Sched. 11, s. 4 (1, 3) - no effect - see 2015, c. 38, Sched. 10, s. 3 - 10/12/2015; 2005, c. 31, Sched. 11, s. 4 (2) - no effect - see 2006, c. 33, Sched. N, s. 3 (1) - 1/01/2005; 2005, c. 31, Sched. 11, s. 4 (4) - no effect - see 2006, c. 33, Sched. N, s. 3 (2) - 1/01/2006 2006, c. 33, Sched. N, s. 3 (1, 2) - 20/12/2006 2015, c. 38, Sched. 10, s. 2 (1, 2) - 31/03/2006