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Algonquin land claim preliminary draft agreement

Algonquin land claim preliminary draft agreement

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12.1

TRANSFER OF ALGONQUIN CAPITAL

12.1.1

The Final Agreement will provide that a transfer under the Final
Agreement of Algonquin Capital and recognition of ownership under the
Final Agreement of Algonquin Capital is not taxable.

12.1.2

For federal and Ontario income tax purposes, Algonquin Capital will be
deemed to have been acquired by the Algonquins at a cost equal to its fair
market value on the latest of:

(a) the Effective Date; and

(b) the date of transfer of ownership or the date of recognition of
ownership, as the case may be.

12.2

SPECIFIED ALGONQUIN LANDS

12.2.1

The Algonquins are not subject to property taxation in respect of Specified
Algonquin Lands, identified in Schedule 12.2, or interests in Specified
Algonquin Lands, on which there are no Improvements.

12.2.2

Where Specified Algonquin Lands are exempt from taxation under 12.2.1,
the Algonquins, prior to the Final Agreement will enter into a financial
arrangement with the appropriate government authority to cover the cost
of services provided by that government authority to Specified Algonquin
Lands, which financial arrangement would become effective on the date
Specified Algonquin Lands are transferred to the Algonquins.

12.2.3

For the purposes of 12.2.1, an improvement is deemed to be on the land
that is necessarily ancillary to the use of the improvement.

12.2.4

For greater certainty, the exemption from taxation in 12.2.1 does not apply
to a taxpayer other than the Algonquins nor does it apply with respect to a
disposition of Specified Algonquin Lands, or of interests in those lands, by
the Algonquins.

12.3

TAX TREATMENT AGREEMENT

12.3.1

The Parties will enter into a tax treatment agreement, which will come into
effect on the Effective Date.

12.3.2

The tax treatment agreement will address:

(a) the tax treatment of Algonquin settlement trusts which may be
established by the Algonquins and which will not be subject to
income tax provided that certain terms and conditions are met;

Preliminary Draft Agreement-in-Principle December 2012
Without Prejudice

83

(b) the tax treatment of certain transfers of Algonquin Capital between
Algonquin Institutions, which will not be taxable provided that
certain terms and conditions are met;

(c) matters relating to the amendment, term and renewal of the tax
treatment agreement; and

(d) other matters agreed to by the parties.

12.3.3

Canada and Ontario will recommend to Parliament and the Legislative
Assembly of Ontario, respectively, that the tax treatment agreement be
given effect and force of law by federal and provincial legislation.

12.3.4

The tax treatment agreement will not be part of the Final Agreement, will
not be a land claim agreement within the meaning of section 35 of the
Constitution Act, 1982, and will not create Aboriginal or treaty rights within
the meaning of section 35 of the Constitution Act, 1982.

12.4

INDIAN ACT TAX EXEMPTION AND TRANSITIONAL EXEMPTION

12.4.1

Following the conclusion of this Agreement-in-Principle and prior to the
conclusion of the Final Agreement, the Parties will negotiate and attempt
to reach agreement on transitional measures in respect of the application
of section 87 of the Indian Act.

12.4.2

Subject to 12.4.1, section 87 of the Indian Act will have no application to
any Beneficiary, Algonquin Institution or Settlement Lands as of the
Effective Date.

12.5

OTHER MATTERS

12.5.1

The Final Agreement may address other matters in respect of taxation as
may be agreed to by the Parties and may address taxation matters
resulting from negotiations, as contemplated by Chapter 11, regarding
self-government.

Preliminary Draft Agreement-in-Principle December 2012
Without Prejudice

84

SCHEDULE 12.2

SPECIFIED ALGONQUIN LANDS

If you are an Algonquin Voter you can book an appointment to see the Descriptive
Plans of the Specified Algonquin Lands by contacting your Algonquin Negotiation
Representative or the Algonquins of Ontario Consultation Office toll free at
1-855-735-3759 or 613-735-3759 or at the following email address:
algonquins@nrtco.net.

If you are a member of the public you can book an appointment to see the Descriptive
Plans of the Specified Algonquin Lands by contacting the Ontario Information Centre toll
free at 1-855-690-7070 or 613-732-8081 or at the following email address:
alcinfo@ontario.ca.

Parcel

91G: indicated on Map “H”

96 I indicated on Map “G”

350 indicated on Map “H”

Preliminary Draft Agreement-in-Principle December 2012
Without Prejudice

85

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