Gross Revenue Charge
Effective January 1, 2001, the existing property taxes and water rental charges paid by hydro-electric generating station owners and water power leaseholders were replaced with lower taxes and charges on the gross revenues of hydro-electric generating stations. These new taxes and charges on gross revenues represent separate components of what is known as the Gross Revenue Charge (GRC).
There are three GRC components:
- The GRC Property Tax Component payable to the Minister of Finance,
- The GRC Property Tax Component payable to the Ontario Electricity Financial Corporation (OEFC), and
- The GRC Water Rental Component.
Who Should Be Registered
- Hydro-electric generators in Ontario
Reporting & Remitting GRC
Station owners and water power leaseholders are required to make their GRC payments on a monthly or quarterly basis, and the GRC Annual Return is due on or before March 16th of the year following the year to which the Annual Return relates.
Additional Information
The provisions of the Corporations Tax Act relating to assessments, refunds of overpayments, objections to assessments, appeals and administration and enforcement apply to the taxes and charges under section 92.1 of the Act; and any amount payable that remains unpaid after it becomes due may be collected as if it were a tax under the Corporations Tax Act.
Further information relating to Corporations Tax
