In this regulation, Act means the Provincial Sales Tax Act.
The City of Vancouver designated accommodation area is designated as a designated major event accommodation area for the purposes of the Act.
For the purposes of sections 123.02 (1), 123.2 (3.2) and 123.3 (3.2) of the Act, the City of Vancouver is designated as the designated recipient in relation to the designated major event accommodation area established in section 2 of this regulation.
For the purposes of section 123.02 (1) of the Act, the rate of tax that applies to accommodation purchased in a designated major event accommodation area is 2.5%.
For the purposes of section 125 (2) (a) of the Act, the prescribed purposes for which the City of Vancouver may spend the money paid to it under section 125 (1) (b) of the Act are the incremental costs as defined in an agreement entered into by the government and the City of Vancouver, as amended from time to time.
This regulation is repealed on February 1, 2030.