Ontario Ministry of Finance Overview
The Ontario Ministry of Finance is responsible for giving suggestions on policies of taxation, economic and financial policies for the province of Ontario. The Ontario Ministry of Finance also monitors the financial affairs of the province of Ontario.
Apart from the ones mentioned above the Ontario Ministry of Finance also develops and allocates the budget of Ontario.
Ontario Ministry of Finance Mission
The primary mission of the Ontario Ministry of Finance is to bring about more dynamism and innovation in the financial affairs of the province. The Ontario Ministry of Finance also aims at improving its standard of managing the various financial affairs in the province.
Ontario Ministry of Finance Steps
The Ontario Ministry of Finance has taken certain steps in order to achieve their aims. They may be mentioned as below:
- Making sure that the public organizations remain accountable to the taxpayers for using their funds
- Creating a climate of economic growth and job creation in Ontario
- Assure prudent management of Ontario's debt
- Promoting the effective and efficient delivery of government services to the taxpayers
- Balance the budget
- Reduce spending
Ontario Ministry of Finance Agencies
The Ontario Ministry of Finance carries out its activities through certain agencies. They are:
- Deposit Insurance Corporation of Ontario
- Ontario Financing Authority
- Financial Services Commission
- Ontario Securities Commission
- Financial Services Tribunal
- Stadium Corporation of Ontario Limited
- Ontario Electricity Financial Corporation
Ontario Ministry of Finance Legislation
The Ontario Ministry of Finance is responsible for implementing the laws, that are related to the financial matters. Following is a list of some of the bills passed by the Ontario Ministry of Finance :
- Assessment Act
- Compulsory Automobile Insurance Act
- Auditor General Act
- Co-operative Corporations Act
- Automobile Insurance Rate Stabilization Act, 2003
- Corporations Tax Act
- Capital Investment Plan Act, 1993
- Credit Unions and Caisses Populaires Act, 1994
- Commercial Concentration Tax Act
- Crown Foundations Act, 1996
- Community Small Business Investment Funds Act