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His Excellency the Governor General recommends to the House of
Commons the appropriation of public revenue under the circumstances,
in the manner and for the purposes set out in a measure entitled ``An Act
to implement certain provisions of the budget tabled in Parliament on
February 18, 1997''.
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Part I establishes the Canada Foundation for Innovation with the
objects and purposes of paying grants to modernize and enhance the
infrastructure for research in Canada.
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Part II enables the Cowichan Tribes of Indians to impose a tax similar
to that imposed under the Tobacco Tax Act, R.S.B.C. 1979, c. 404 of
British Columbia, on sales of tobacco to Indians on the reserves of the
Cowichan Tribes.
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Part III enables the Cowichan Tribes of Indians to impose a 7%
value-added tax on all sales of tobacco products on the reserves of the
Cowichan Tribes.
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Part IV enables the Westbank First Nation to impose a 7%
value-added tax on all sales of tobacco products on the reserves of the
Westbank First Nation.
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Part V amends the Excise Tax Act to implement increases in the
excise tax rates on tobacco products intended for retail sale in Ontario,
Quebec, New Brunswick, Nova Scotia and Prince Edward Island and to
modify the excise tax treatment of tobacco exports to foreign duty free
shops. In addition, the Income Tax Act is amended to extend the current
tobacco manufacturers' surtax and the Customs Tariff is amended to
reduce the amount of certain tobacco products that can be brought into
Canada by individuals on a tax and duty free basis.
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Part VI amends the Income Tax Act to restructure the working
income supplement component of the child tax benefit by moving it
from a family basis to a per child basis. The assistance provided by the
working income supplement is also increased.
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Part VII amends the Excise Tax Act and the Income Tax Act to allow
air carriers to exchange income tax loss carryforwards for rebates of
excise tax paid on aviation fuel. The rebate, which is available to air
carriers in respect of fuel purchased or imported in the years 1996 to
1999, may not exceed $20,000,000 a year for any one carrier or group
of carriers. An air carrier that claims a rebate must reduce its income tax
loss carryforwards by 10 times the amount of the rebate (or include 10
times the amount of the rebate in its income). If the air carrier later
repays the rebate, with interest, it may reinstate its losses.
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Part VIII amends the Excise Tax Act to clarify that taxpayers must use
the same method to measure the volume of fuel for the purpose of
accounting for excise tax as that used to establish the quantity of fuel
sold or imported.
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Part IX amends the Employment Insurance Act to
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(a) increase the threshold for refunds of employers' premiums to
employers whose premiums increase during 1997 and 1998;
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(b) provide for the payment of benefits to claimants while they are
receiving training under a program of a province or other
organization that is the subject of an agreement under section 63 of
that Act; and
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(c) exclude benefits paid to a claimant while employed under an
employment program of a province or other organization that is the
subject of an agreement under section 63 of that Act from being
considered as earnings from employment for the purposes of that
Act, the Income Tax Act and the Canada Pension Plan.
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Part X amends the Bretton Woods and Related Agreements Act to
permit the Minister of Finance to enter agreements with the Bank for
International Settlements to guarantee repayment of amounts loaned to
a country in accordance with a credit facility.
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The Farm Credit Corporation Act is amended to increase the ceiling
on amounts that the Minister of Finance may pay to the Farm Credit
Corporation.
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Part XI provides for the payment of $800 million plus interest to the
Canada Foundation for Innovation.
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