WHAT ARE THE MAIN DIFFERENCES BETWEEN S.83 TAXATION AND TAXATION UNDER THE FSMA?
The FSMA provides an enhanced regulatory framework for First Nation real property taxation. It differs with s.83 taxation in six fundamental ways: · Clarity of laws – FSMA provides clear statutory authority for local revenue laws including taxation, business licensing, and development cost charges. · Institutional support and protection of local revenues – FSMA provides clear statutory protection for First Nation local revenues (including taxation revenues). · Enforcement provisions – FSMA provides clear statutory authority for First Nations to enforce their local revenue laws. · Approval authority – FSMA provides for FNTC review and approval of local revenue laws, bypassing delays associated with Ministerial approvals. · Improved taxpayer relations provisions – FSMA provides clear statutory requirements for taxpayer notice and due process.
The FSMA provides an enhanced regulatory framework for First Nation real property taxation. It differs with s.83 taxation in six fundamental ways: • Clarity of laws – FSMA provides clear statutory authority for local revenue laws including taxation, business licensing, and development cost charges. • Institutional support and protection of local revenues – FSMA provides clear statutory protection for First Nation local revenues (including taxation revenues). • Enforcement provisions – FSMA provides clear statutory authority for First Nations to enforce their local revenue laws. • Approval authority – FSMA provides for FNTC review and approval of local revenue laws, bypassing delays associated with Ministerial approvals. • Improved taxpayer relations provisions – FSMA provides clear statutory requirements for taxpayer notice and due process. • Access to debenture financing system – FSMA provides access to the infrastructure debenture financing system, allowing First Nations to lever the
