58_2011 — Treaty First Nation Property Transfer Tax Exemption Regulation

s. 1 — Definitions

In this regulation:

s. 1 — Act

Act means the Property Transfer Tax Act;

s. 1 — application

application means an application to the registrar under the Land Title Act;

s. 1 — effective date

effective date, in respect of a final agreement, means the date the final agreement comes into effect in accordance with its terms.

s. 2 — Return exemptions

The following persons are exempt in relation to the specified transaction from the requirement under section 2 (1) (b) of the Act to file a return:

s. 2(a)

a treaty first nation, and any other person, in respect of an application, made on the effective date of the treaty first nation's final agreement, for registration of a taxable transaction for which the treaty first nation or other person is exempt from taxation under that final agreement or section 2.2 (2) of the Act;

s. 2(b)

a person, other than a member of the treaty first nation, in respect of an application, made on the effective date of the treaty first nation's final agreement, for registration of a leasehold interest in the treaty first nation's treaty lands, which interest is provided under the final agreement to replace a leasehold interest in those lands held by the person before the effective date.

s. 3 — Property transfer tax exemption

A person referred to in section 2 (b) is exempt from tax in relation to the taxable transaction for which the person is exempt under that section from the requirement to file a return.