SHXWHÁ:Y VILLAGE
44680 Schweyey Road, Chilliwack, BC V2R 5M5 (604) 792-9316
NOTICE OF PROPOSED LOCAL REVENUE LAW
AND INVITATION TO MAKE REPRESENTATIONS
NOTICE IS GIVEN, pursuant to section 6 of the First Nations Fiscal Management Act (the “FMA”), that Shxwhá:y Village proposes to enact the Shxwhá:y Village Property Transfer Tax Law, 2022 (the “Proposed Law”).
DESCRIPTION OF PROPOSED LAW: The Proposed Law is a taxation law made under the general authority of section 5(1)(a) of the FMA. The Proposed Law provides for a tax on certain leasehold interests in land in the reserve at the time the interest is transferred or extended. Under the Proposed Law, the transfer tax is levied and payable at the time of registration of the transfer of the leasehold interest at the rate of 1% of the taxable transfer’s fair market value that does not exceed $200,000, 2% of that portion of the fair market value that exceeds $200,000 but does not exceed $2 million, 3% of that portion of the fair market value that exceeds $2 million, and an additional 2% of that portion of the fair market value of residential properties that exceeds $3 million. The Proposed Law includes provisions for the appointment of an administrator, for filing a tax return and paying the tax at the time of registration of the transfer, exemptions for certain transfers including for certain first-time home buyers, for qualifying newly constructed homes and leaseholds having a term of 30 years or less, powers of inspection and tax assessment for the administrator, taxpayers’ rights to reconsideration and appeal, and provisions for penalties, interest, and tax collection and enforcement.
A COPY OF THE PROPOSED LAW may be obtained from: Lisa Hall, Property Tax Administrator, at 7256 Chilliwack River Rd, Chilliwack, BC V2R 4L9, (604) 798-6811 or Lisa.Hall@mvbookkeeping.ca. A description of the key elements of the Proposed Law may be viewed on the Shxwhá:y Village website at www.skway.com.
WRITTEN REPRESENTATIONS: The Council of Shxwhá:y Village (the “Council”) invites written representations regarding the Proposed Law. If you wish to make a written representation, your written representation must be received by Shxwhá:y Village at the address set out below, on or before 4:30 pm on May 17, 2022. The Council will consider all written representations received in accordance with this Notice before enacting the Proposed Law.
ADDRESS AND CONTACT PERSON: For further information or questions regarding the Proposed Law or this Notice, please contact Lisa Hall, Property Tax Administrator at 44680 Schweyey Road, Chilliwack, BC V2R 5M5, by telephone at (604) 798-6811, or by email at Lisa.Hall@mvbookkeeping.ca.
Dated: April 1, 2022