Authors: Stephen J. Fyfe, Francesco G. Gucciardo, William R. McLean
Details: On October 16, 2006, the Ontario Ministry of Finance ("MOF") announced its intention to provide: (i) a two-year transfer tax exemption available in respect of transfers of property made before October 17, 2008 by publicly-owned electricity utilities to other publicly owned electricity utilities in Ontario and mergers between them (the "Transfer Tax Holiday"), and (ii) a refund of transfer tax upon the reinvestment of a transferor's proceeds in electricity assets (the "Refund for Reinvestment").