Tzeachten First Nation
45855 Promontory Road,
Chilliwack, B.C. V2R 0H3
Tzeachten First Nation
NOTICE OF PROPOSED LOCAL REVENUE LAW AND INVITATION TO MAKE REPRESENTATIONS
THIS NOTICE is given pursuant to section 6 of the First Nations Fiscal Management Act (the “FMA”) and pursuant to the First Nations Tax Commission Standards Respecting Notices Relating to Local Revenue Laws, 2018 (“Notice Standards”).
The Tzeachten First Nation (the “First Nation”) proposes to enact the Tzeachten First Nation Property Transfer Tax Amendment Law, 2023 (“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 expands the application of the property transfer tax to include residential, commercial and industrial interests with a term or remaining term of greater than ten (10) years. The Proposed Law contains revised First Time Home Buyer qualification and retention requirements, including a fair market value limit of five hundred thousand dollars ($500,000). The Proposed Law also corrects and clarifies the interest and penalty provisions.
A copy of the Proposed Law may be obtained from the First Nation at the address set out below.
A description of the key elements of the Proposed Law may be viewed on the Tzeachten First Nation website https://tzeachten.ca
WRITTEN REPRESENTATIONS: The Council of the First Nation invites written representations regarding the Proposed Law. If you wish to make a written representation, your written representation must be received by the First Nation at the address set out below on or before 4:00pm Monday June 19, 2023 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: Deanna Honeyman Lands Manager at 45855 Promontory Road Chilliwack BC V2R 0H3, by telephone at 604-858-3888 or by email at deanna@tzeachten.ca.
Dated: May 3, 2023