jswizzle3737/ontario_laws_and_regs huggingface dataset:
Prescribed amounts re generating station buildings or structures
1. For 2011 and subsequent taxation years, the following amounts are prescribed for the purposes of clause 92 (1) (a) of the Act with respect to the determination of the assessed value of the land on which are situated generating station buildings or structures: 1. For generating station buildings or structures owned by Ontario Power Generation Inc. or any of its subsidiaries, the amount set out in Table 1 opposite the roll number and subordinate roll number for the property on which they are located. 2. For generating station buildings or structures owned by a municipal electricity utility, the amount set out in Table 2 opposite the roll number and subordinate roll number for the property on which they are located. O. Reg. 423/11, s. 1.
Prescribed amounts re transformer station buildings or structures
2. For 2011 and subsequent taxation years, the following amounts are prescribed for the purposes of clause 92 (1) (a) of the Act with respect to the determination of the assessed value of the land on which are situated transformer station buildings or structures: 1. For transformer station buildings or structures owned by Ontario Power Generation Inc. or any of its subsidiaries, the amount set out in Table 3 opposite the roll number and subordinate roll number for the property on which they are located. 2. For transformer station buildings or structures owned by Hydro One Inc. or any of its subsidiaries, the amount set out in Table 4 opposite the roll number and subordinate roll number for the property on which they are located. 3. For transformer station buildings or structures owned by a municipal electricity utility other than Toronto Hydro Corporation, the amount set out in Table 5 opposite the roll number and subordinate roll number for the property on which they are located. 4. For transformer station buildings or structures owned by Toronto Hydro Corporation, the amount set out in Table 6 opposite the roll number and subordinate roll number for the property on which they are located. O. Reg. 423/11, s. 2.
Prescribed amounts re transformer station buildings or structures
3. Revoked: O. Reg. 423/11, s. 14. Returns
Returns
5. Revoked: O. Reg. 423/11, s. 14. Payments In Lieu
Payments by Ontario Power Generation Inc.
6. (1) For 2011 and subsequent taxation years, Ontario Power Generation Inc. or its subsidiary, as the case may be, shall make monthly payments to the Financial Corporation with respect to its liability under subsection 92 (1) of the Act for each property it owns that has a roll number set out in Table 1 or 3. O. Reg. 423/11, s. 6 (1). (2) Payments with respect to each property must be made on or before the 16th day of the month and, (a) the amount of each payment to be made in the first nine months of a year must be 1/12 of the total amount paid with respect to the property for the preceding year; and (b) the amount of each payment to be made in the remaining three months of the year must be 1/3 of the difference between the total amount payable for the year under subsection 92 (1) of the Act with respect to the property and the sum of the amounts paid in the first nine months of the year under clause (a). O. Reg. 423/11, s. 6 (2). (3) If Ontario Power Generation Inc. or a subsidiary, as the case may be, acquires a property on or after January 1 but before October 16 in a year, the amount payable under subsection 92 (1) of the Act for that year shall be paid in three equal instalments on or before October 16, November 16 and December 16 of that year. O. Reg. 423/11, s. 6 (3). (4) If Ontario Power Generation Inc. or a subsidiary, as the case may be, acquires a property on or after October 16 in a year, the amount payable under subsection 92 (1) of the Act for that year shall be included in the first payment made under subsection (1) in the following year. O. Reg. 423/11, s. 6 (4). (5) If subsection (4) applies, the monthly payment with respect to the property for the subsequent year shall be determined as if the property had been owned by Ontario Power Generation Inc. or the subsidiary for the entire year in which the property was acquired. O. Reg. 423/11, s. 6 (5). (6) If Ontario Power Generation Inc. or a subsidiary disposed of a property after January 1 of a year, the payments made under clause (2) (a) or (b) may be adjusted to eliminate any payment made in respect of the property commencing in the month after the disposition of the property. O. Reg. 423/11, s. 6 (6). (7) If subsection (6) applies, the monthly payments for a subsequent year shall be determined as if the property had not been owned by Ontario Power Generation Inc. or the subsidiary for the entire year in which the property was disposed of. O. Reg. 423/11, s. 6 (7). (8) Ontario Power Generation Inc. is permitted to make consolidated payments under this section for itself and on behalf of its subsidiaries with respect to their liabilities under subsection 92 (1) of the Act. O. Reg. 423/11, s. 6 (8).
Payments by Hydro One Inc.
7. (1) For 2011 and subsequent taxation years, Hydro One Inc. or its subsidiary, as the case may be, shall make two payments to the Financial Corporation with respect to its liability under subsection 92 (1) of the Act for each property it owns that has a roll number set out in Table 1 or 3. O. Reg. 423/11, s. 7 (1). (2) An interim payment with respect to each property must be made on or before April 16, and the amount of the interim payment is 50 per cent of the total amount paid with respect to the property for the preceding year. O. Reg. 423/11, s. 7 (2). (3) A final payment with respect to each property must be made on or before October 16, and the amount of the final payment is the difference between the amount of the interim payment, if any, and the amount payable for the year under subsection 92 (1) of the Act with respect to the property. O. Reg. 423/11, s. 7 (3). (4) If Hydro One Inc. or the subsidiary, as the case may be, acquires a property whose roll number is set out in any of the Tables and the property is acquired on or after January 1 but before October 16, the following rules apply: 1. The amount payable under subsection 92 (1) for the year must be paid on or before October 16. 2. The interim payment with respect to the property for the subsequent year is 50 per cent of the amount that would have been payable for the year in which the property was acquired, had subsection 92 (1) of the Act applied to the property for the full year. O. Reg. 423/11, s. 7 (4). (5) If Hydro One Inc. or the subsidiary, as the case may be, acquires a property on or after October 16 in a year, the amount payable under subsection 92 (1) of the Act for the year must be included in the interim payment to be made in the following year. O. Reg. 423/11, s. 7 (5). (6) Hydro One Inc. is permitted to make consolidated payments under this section for itself and on behalf of its subsidiaries with respect to their liabilities under subsection 92 (1) of the Act. O. Reg. 423/11, s. 7 (6).
Payments by Hydro One Inc.
8. Revoked: O. Reg. 423/11, s. 14.
Payments by municipal electricity utilities
9. (1) For 2011 and subsequent taxation years, each municipal electricity utility shall make two payments to the Financial Corporation with respect to its liability under subsection 92 (1) of the Act for each property it owns that has a roll number set out in Table 2, 4, 5 or 6. O. Reg. 423/11, s. 9 (1). (2) Subsections 7 (2), (3), (4) and (5) apply, with necessary modifications, with respect to the payments to be made by each municipal electricity utility. O. Reg. 423/11, s. 9 (2).
Payments by municipal electricity utilities
10. Revoked: O. Reg. 423/11, s. 14.
Minimum amount of all payments
11. (1) Despite sections 6, 7 and 9, if the total amount determined to be payable under subsection 92 (1) of the Act by an entity for a year with respect to all of its properties referred to in Tables 1, 2, 3, 4, 5 and 6 is less than $50, no payment shall be made and, if that amount is less than $100, payment shall be made with the filing of the return under section 4. O. Reg. 423/11, s. 11 (1). (2) If either Ontario Power Generation Inc. or Hydro One Inc. makes consolidated payments under section 6 or 7 for itself and on behalf of its subsidiaries, the amounts referred to in subsection (1) apply with respect to the total amount of the consolidated payments. O. Reg. 423/11, s. 11 (2).
Minimum amount of all payments
(3), (4) Revoked: O. Reg. 423/11, s. 14. Interest and Penalties
Interest on overdue payments
12. (1) Interest is payable on any amount that is not paid when it is due. O. Reg. 423/11, s. 12 (1). (2) The amount of the interest is determined at the same rate and in the same manner as interest on overdue amounts under the Corporations Tax Act. O. Reg. 423/11, s. 12 (2). (3) If the amount prescribed for the purposes of clause 92 (1) (a) of the Act changes after the return or an amended return for the year has been filed or if no return is filed, interest is payable on any refund that becomes payable as a result of the change in the prescribed amount, and the interest is payable for the period from the date of the overpayment to the Financial Corporation and is determined at the rates determined for overpayments under the Corporations Tax Act. O. Reg. 423/11, s. 12 (3).
Penalty on overdue payments
13. (1) A penalty is payable with respect to any amount that is not paid when it is due. O. Reg. 423/11, s. 13 (1). (2) The amount of the penalty is $6 or 5 per cent of the amount due, whichever is greater. O. Reg. 423/11, s. 13 (2).
Penalty on overdue payments
14. Omitted (provides for amendments to this Regulation). O. Reg. 423/11, s. 14.
Penalty on overdue payments
15. Omitted (revokes other Regulations). O. Reg. 423/11, s. 15.