Canada: Ontario's second budget bill enacted

Second budget bill in Ontario enacted

Ontario Bill 144 received Royal Assent on 10 December 2015; thus, certain tax changes from the province's 2015 budget are enacted.

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Among the enacted changes are measures that: 

  • Amend the applicable tax rates related to a mutual fund trust's Ontario capital gains refund, beginning after 2015 
  • Amend the conditions for the Ontario interactive digital media tax credit 
  • Treat certain government payments as "excluded government assistance" for the purposes of the Ontario computer animation and special effects tax credit 

Bill 144 received first reading on 18 November 2015. This is the second bill to enact changes from the province’s 2015 budget. The first received Royal Assent on 4 June 2014. 

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