Building Ontario Up for Everyone Act (Budget Measures), 2016, S.O. 2016, c. 37 - Bill 70

JurisdictionOntario
Bill Number70
Date08 December 2016

EXPLANATORY NOTE

This Explanatory Note was written as a reader’s aid to Bill 70 and does not form part of the law. Bill 70 has been enacted as Chapter 37 of the Statutes of Ontario, 2016.

SCHEDULE 1
Alcohol and Gaming Regulation and public Protection act, 1996

Currently, Part II of the Alcohol and Gaming Regulation and Public Protection Act, 1996 provides for consumer taxes on wine sold at winery retail stores. The taxes consist of a basic tax, a volume tax and an environmental tax. Amendments to Part II impose a phased increase to the basic rate of tax on wine and wine coolers purchased from wine boutiques, which are winery retail stores located inside the shopping area of a grocery store.

Technical amendments are made to the terminology relating to wine taxes. The method of calculating the retail price of wine is re-enacted to parallel the detailed calculation for determining the retail price of spirits.

The Act is also amended to provide that as of July 1, 2017, purchases of spirits from stores operated by a spirits manufacturer are subject to a basic tax, a volume tax and an environmental tax. Manufacturers may distribute, without charge, up to 1,250 litres of spirits in each year exempt from tax. Amendments are made to provide for the collection of the taxes on spirits.

Finally, the Act is amended with respect to microbrewers retaining their status as microbrewers while entering into agreements or arrangements with beer manufacturers that are not microbrewers in limited circumstances.

SCHEDULE 2
assessment act

The Assessment Act is amended to allow the Minister of Finance to make regulations setting out a different method for determining the amount owed by the operators of a public utility. The information disclosure offence in subsection 53 (1) is amended to apply only to information collected under the Act or to information collected pursuant to an assessment appeal or a court proceeding involving an assessment matter.

SCHEDULE 3
CITY OF TORONTO ACT, 2006

Section 278 of the City of Toronto Act, 2006 currently sets out mandatory reductions in tax rates for subclasses of real property. The percentages are set out in the statute and may be modified by the City’s by-laws. Amendments are made to the ability of the City to make these by-laws and to choose reductions within prescribed ranges. The City is also allowed to choose that no reductions apply if authorized to do so by the regulations.

Sections 279, 329 and 331 of the Act allow for the use of graduated tax rates and provide for charity rebates and vacant unit rebates for property in the commercial classes and industrial classes. The sections are amended to permit the Minister of Finance to make regulations providing that the sections may apply to additional property classes not already prescribed under the Act.

Part XII of the Act provides for tax capping on business properties. Various sections within the Part are amended to permit the Minister of Finance to make regulations providing that the Part may apply to additional property classes not already prescribed under the Act. Additional amendments permit regulations made under the Part to provide that they do not apply in the City unless the City opts to have them apply.

Currently, subsection 309 (3) provides for regulations relating to the form and content of tax bills, including information that the bills must contain. An amendment to the subsection would provide that such regulations could set out the method of calculating information relating to tax changes shown on bills. An additional amendment would permit regulations made under the subsection to provide that they do not apply in the City unless the City opts to have them apply.

SCHEDULE 4
COMMODITY FUTURES ACT

The Commodity Futures Act is amended by adding a new Part XII.1, which prohibits reprisals against employees for providing information about a possible contravention of Ontario commodity futures law, or a by-law or other regulatory instrument of a recognized self-regulatory organization, or for being involved in an investigation or proceeding related to the information provided.

SCHEDULE 5
CREDIT UNIONS AND CAISSES POPULAIRES ACT, 1994

The Schedule makes the following amendments to the Credit Unions and Caisses Populaires Act, 1994:

1. The condition that a credit union can only participate in loan syndications if the borrower is a member of an Ontario credit union that is one of the lenders in the loan syndicate is repealed. This will allow credit unions to participate in syndicated loans outside Ontario.

2. References in the Act to classes of credit unions are repealed.

3. The power of the Deposit Insurance Corporation of Ontario to define “deposit” for the purposes of deposit insurance is repealed.

4. The Lieutenant Governor in Council is authorized to make regulations that set out different deposit insurance limits for different insurable deposits.

5. The Superintendent of Financial Services is permitted to register credit unions from other parts of Canada to allow them to participate in syndicated loans under the Act.

SCHEDULE 6
crown employees collective bargaining act, 1993

The Crown Employees Collective Bargaining Act, 1993 is amended as follows:

Section 23 of the Act is amended to set out a list of designated bargaining units for public servants. Consequential amendments are made to the bargaining agent provisions.

The Act is amended by adding a new Part III.1, which sets out a mandatory interest arbitration regime for the Correctional Bargaining Unit. The Unit is required to settle a dispute by arbitration if a conciliation officer appointed under the Labour Relations Act, 1995 is unable to effect a collective agreement. The arbitration procedure is provided for in the new Part.

The Minister is given regulation-making powers relating to the mandatory interest arbitration regime.

SCHEDULE 7
financial administration act

The Financial Administration Act permits the Lieutenant Governor in Council to use loans or securities to raise money for refinancing loans and securities. The Schedule amends the way that the Lieutenant Governor in Council’s order authorizes the refinancing, so that it states a maximum aggregate amount. For the purpose of specifying the maximum aggregate amount in Canadian dollars, the Minister of Finance may approve a method of calculating the conversion into Canadian dollars of the amount necessary for refinancing a loan or security that is denominated in a foreign currency.

Also, when money is raised in a foreign currency, the conversion of the amount raised is based on the spot exchange rate rather than the noon spot exchange rate.

SCHEDULE 8
financial services regulatory authority of ontario act, 2016

The Schedule enacts the Financial Services Regulatory Authority of Ontario Act, 2016. Section 2 establishes the Financial Services Regulatory Authority of Ontario as a corporation without share capital. The Authority will be a Crown agent.

The object of the Authority is to regulate the regulated sectors as defined in the Financial Services Commission of Ontario Act, 1997 (section 3). The Authority is required to work with the Minister to prepare for the Authority to carry out that regulatory function (section 4).

Section 5 deals with the provision of information from the Financial Services Commission of Ontario (“FSCO”), the Superintendent of Financial Services and the Deposit Insurance Corporation of Ontario (“DICO”) for the purpose of the preparation described above and the transition from that regulatory function being carried out by FSCO, the Superintendent of Financial Services and DICO to that function being carried out by the Authority.

Sections 8 to 10 deal with the directors and employees of the Authority. The directors are appointed by the Lieutenant Governor in Council on the recommendation of the Minister (subsection 8 (3)).

Sections 11 to 18 deal with financial matters. The revenues and investments of the Authority will not form part of the Consolidated Revenue Fund (subsection 11 (1)). Sections 15 and 16 provide for assessments of entities in the regulated sectors to pay for certain expenses and expenditures of the Authority and the Ministry.

The new Act also provides for certain immunities for directors, employees and agents of the Authority and for related matters (sections 19 and 20) and for regulations (section 21).

SCHEDULE 9
fire protection and prevention act, 1997

Sections 49 and 50 of the Fire Protection and Prevention Act, 1997, which provide for conciliation during the collective bargaining process, are repealed. The new section 49 provides for the referral of matters in dispute to arbitration. Section 50.5 of the Act is amended to provide that in making a decision, the board of arbitration may not refer matters in dispute back to the parties to the arbitration. Technical amendments are also made, and transitional matters are provided for.

SCHEDULE 10
insurance act

Currently under subsection 282 (1) of the Insurance Act, the Lieutenant Governor in Council may assess automobile insurers for expenses and expenditures of the Licence Appeal Tribunal relating to the resolution of statutory accident benefits disputes. Insurers are required to pay the amount assessed against them. Insurers who fail to pay their assessment can have their licence cancelled or suspended by the Superintendent. The Schedule adds a new subsection 282 (4.1) providing that the unpaid amount of an assessment is a debt due to the Crown which may be recovered by action or by any other remedy or procedure available by law to the Crown. An amendment is also made to correct a reference in subsection 197 (2).

SCHEDULE 11
interim appropriation for 2017-2018 act, 2016

The Schedule enacts the Interim Appropriation for 2017-2018 Act, 2016, which authorizes expenditures pending the voting of supply for the fiscal year ending on March 31, 2018 up to specified...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT