EXPLANATORY NOTE

This enactment contains a revised version, adapted to the revised Income Tax Act, of the income tax law amendments contained in nine Acts passed since November 30, 1991. These amendments were passed after the cut-off date for the consolidation and revision of the Income Tax Act and, therefore, were not included in the revised Income Tax Act and Income Tax Application Rules in the fifth supplement to the Revised Statutes of Canada, 1985. The original amendments were drafted in the style of the Income Tax Act as it read before being revised, since the revised Income Tax Act was not yet in force at the time they became law.

The revised version of the income tax law amendments is found in the nine schedules to this enactment, each of which corresponds to one of the original amending Acts. In each schedule, the title of the original amending Act and its chapter number and date of assent are given.

Following the method adopted for the revision of the Income Tax Act, the numbering of the sections of the original amending Acts has not been changed. This explains possible gaps in the numbering of the provisions in a schedule to this enactment where, for instance, the original amending Act contained material not related to income tax, or a correction made by an amendment to the pre-revision Income Tax Act was also made in the revision of that Act. On the other hand, a change made in the revision of the Income Tax Act may make it necessary to use two provisions in a schedule where there was only one provision in the original amending Act. In such a case the added provision is given a decimal number.

This enactment provides that the revised income tax law amendments in its schedules are to be interpreted as if they were part of the Revised Statutes of Canada, 1985. As a consequence, the revised amendments must not be interpreted as new law, but as being identical in substance with the amendments in the original amending Acts, from which they differ only in form.

This enactment also provides that the revised amendments in the schedules are deemed to have come into force at the same time as the corresponding original amendments.