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Fourth Session, Thirty-Ninth Legislature

This version is based on the printed bill that was distributed in the Legislature after First Reading.   It is not the official version.   If accuracy is critical, you can obtain a copy of the printed bill from Statutory Publications or view the online bilingual version (PDF).

Bill 207

THE TAX ADMINISTRATION AND MISCELLANEOUS TAXES AMENDMENT ACT (LAND TRANSFER TAX EXEMPTION FOR FIRST-TIME HOME BUYERS)


Explanatory Note

(Assented to                                         )

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

C.C.S.M. c. T2 amended

1           The Tax Administration and Miscellaneous Taxes Act is amended by this Act.

2(1)        The following is added after clause 114(1)(c):

(c.1) a transfer of a residential property where the transferee is an individual

(i) who has not previously owned residential property in Manitoba ,

(ii) whose spouse or common-law partner, if any, has not previously owned residential property in Manitoba, and

(iii) who will be using the property as his or her primary residence;

2(2)        Subsection 114(2) is amended by striking out "clause (1)(e)" and substituting "clause (1)(c.1) or (e)".

3           The following is added after section 121:

Regulations

121.1       The Lieutenant Governor in Council may make regulations

(a) establishing requirements for property to be considered a residential property for the purpose of clause 114(1)(c.1);

(b) respecting any matter that the Lieutenant Governor in Council considers necessary or advisable to carry out the purposes of this Part.

Coming into force

4           This Act comes into force on the day it receives royal assent.

Explanatory Note

This Bill amends The Tax Administration and Miscellaneous Taxes Act to exempt first-time purchasers of residential property from paying the land transfer tax.