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(b) the dollar amount, as adjusted
annually and referred to in paragraph
117(2)(a), that is used for the calendar
year following the base taxation year;
and
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(3) Paragraphs (a) and (b) of the
description of F in subsection 122.61(1) of
the Act are replaced by the following:
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(a) only one qualified dependant, $1,155,
and
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(b) two or more qualified dependants, the
total of
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(i) $1,155 for the first qualified
dependant,
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(ii) $955 for the second qualified
dependant, and
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(iii) $880 for each of the third and
subsequent qualified dependants,
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(4) The descriptions of G and H in
subsection 122.61(1) of the Act are replaced
by the following:
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G is the amount, if any, by which the
person's adjusted income for the year
exceeds $21,214, and
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H is the proportion (expressed as a
percentage rounded to the nearest
one-tenth of one per cent) that
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(a) the total that would be determined
under the description of F in respect of
the eligible individual if that
description were applied without
reference to the fourth and subsequent
qualified dependants in respect of
whom the person is an eligible
individual
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(i) the amount referred to in
paragraph (b) of the description of B
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(5) The portion of subsection 122.61(5) of
the Act before paragraph (a) is replaced by
the following:
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| Annual
adjustment
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(5) Each amount expressed in dollars in
subsection (1) shall be adjusted so that, where
the base taxation year in relation to a
particular month is after 1998, the amount to
be used under that subsection for the month is
the total of
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(6) The formula in subparagraph
122.61(5)(b)(ii) of the Act is replaced by the
following:
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(A/B) - 1
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(7) The description of A in subparagraph
122.61(5)(b)(ii) of the Act is replaced by the
following:
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A is the Consumer Price Index (within the
meaning assigned by subsection
117.1(4)) for the 12-month period that
ended on September 30 of the base
taxation year, and
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(8) Section 122.61 of the Act is amended
by adding the following after subsection (5):
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| Adjustment to
certain
amounts
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(6) For the purpose of subsection (5), the
amount of $1,090, and the amounts in respect
of the amounts of $213 and $75, referred to in
subsection (1), that are used for the purpose of
determining the amount deemed to be an
overpayment arising during particular months
that are
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(a) after June 2000 and before July 2001,
are deemed to be $1,104, $219 and $77,
respectively;
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(b) after June 2001 and before July 2002,
shall be equal to the greater of the amounts
deemed under paragraph (a) to be an
overpayment arising during the months
referred to in that paragraph and the
amounts that would otherwise be
determined for those particular months if
this Act were read without reference to this
subsection; and
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(c) after June 2002, shall be computed
without reference to paragraphs (a) and (b).
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| Exception
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(6.1) Where section 122.63 applies for the
purpose of calculating an overpayment
deemed under subsection (1) to arise during a
month referred to in paragraph (6)(a) or (b) on
account of a person's tax liability, the amount
determined under subparagraph (5)(b)(ii) in
respect of the person for the month is deemed
to be
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(a) zero, where the month is referred to
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(i) in paragraph (6)(a), or
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(ii) in paragraph (6)(b) and the amount
otherwise determined under
subparagraph (5)(b)(ii) is less than 0.014;
and
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(b) 1090/1104 of the amount otherwise
determined under that subparagraph, in any
other case.
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(9) Subsections (1) to (8) apply with
respect to overpayments deemed to arise
during months that are after June 2000
except that, with respect to overpayments
deemed to arise during months that are
after June 2000 and before July 2001, the
references to ``$1,155'', ``$955'' and ``$880''
in paragraphs (a) and (b) of the description
of F in subsection 122.61(1) of the Act, as
enacted by subsection (3), shall be read as
references to ``$977'', ``$771'' and ``$694'',
respectively.
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41. (1) Paragraph 206(2)(b) of the Act is
replaced by the following:
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(b) 30% of the total of all amounts each of
which is the cost amount of a property to the
taxpayer, and
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(2) Subsection (1) applies to months that
end after 1999, except that for months in
2000 the reference to ``30%'' in paragraph
206(2)(b) of the Act, as enacted by
subsection (1), shall be read as ``25%''.
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| R.S., c. L-2
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| 1993, c. 42,
s. 26
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42. Section 206.1 of the Canada Labour
Code is replaced by the following:
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| Entitlement to
leave
|
206.1 (1) Subject to subsections (2) and (3),
every employee who has completed six
consecutive months of continuous
employment with an employer is entitled to
and shall be granted a leave of absence from
employment of up to thirty-seven weeks to
care for a new-born child of the employee or
a child who is in the care of the employee for
the purpose of adoption under the laws
governing adoption in the province in which
the employee resides.
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| Period in
which leave
may be taken
|
(2) The leave of absence may only be taken
during the fifty-two week period beginning on
the day on which the child is born or comes
into the care of the employee.
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| Aggregate
leave - two
employees
|
(3) The aggregate amount of leave that may
be taken by two employees under this section
in respect of the same birth or adoption shall
not exceed thirty-seven weeks.
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| Aggregate
leave -
maternity and
parental
|
206.2 The aggregate amount of leave that
may be taken by one or two employees under
sections 206 and 206.1 in respect of the same
birth shall not exceed fifty-two weeks.
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| Conditional
amendment
- Bill C-23
|
43. If Bill C-23, introduced in the 2nd
Session of the 36th Parliament and entitled
the Modernization of Benefits and
Obligations Act (the ``other Act''), receives
royal assent, then on the later of the coming
into force of section 107 of the other Act and
the coming into force of section 42 of this
Act, section 206.1 of the Canada Labour
Code is replaced by the following:
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| Entitlement to
leave
|
206.1 (1) Subject to subsections (2) and (3),
every employee who has completed six
consecutive months of continuous
employment with an employer is entitled to
and shall be granted a leave of absence from
employment of up to thirty-seven weeks to
care for
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(a) a new-born child of the employee;
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(b) a child who is in the care of the employee
for the purpose of adoption under the laws
governing adoption in the province in
which the employee resides; or
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(c) a child with respect to whom the
employee meets the requirements of
paragraph 23(1)(c) of the Employment
Insurance Act.
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| Period in
which leave
may be taken
|
(2) The leave of absence may only be taken
during the fifty-two week period beginning on
the day on which
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(a) the child is born or comes into the care
of the employee, in the case of paragraph
(1)(a) or (b); or
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(b) the requirements referred to in
paragraph (1)(c) are met, in the case of a
situation described in that paragraph.
|
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| Aggregate
leave - two
employees
|
(3) The aggregate amount of leave that may
be taken by two employees under this section
in respect of the same event, as described in
paragraphs (1)(a) to (c), shall not exceed
thirty-seven weeks.
|
|
| Coming into
force
|
44. Section 42 comes into force on
December 31, 2000.
|
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| R.S., c. C-8
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45. Section 110 of the Canada Pension
Plan is amended by adding the following
after subsection (6.3):
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| Redemption at
request of
province
|
(6.4) Despite subsections (6.2) and (6.3),
the Minister of Finance shall redeem a
security in whole or in part before maturity if
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(a) the Minister of Finance is requested to
do so, in writing, by the appropriate
provincial Minister of a province at least 30
days before the proposed redemption date;
and
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(b) the appropriate provincial Minister has
agreed to pay on the redemption date
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(i) any payments of principal or interest
due on or before the redemption date but
not yet paid,
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(ii) interest on the principal amount being
redeemed accrued to the date of
redemption, and
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(iii) an amount equal to the present value
of the remaining instalments of principal
being redeemed and interest on that
principal.
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| Calculation of
present value
|
(6.5) For the purposes of subparagraph
(6.4)(b)(iii), the present value shall be
calculated by discounting the instalments of
principal being redeemed and interest on that
principal using an interest rate fixed by the
Minister of Finance. In fixing that rate, the
Minister of Finance shall choose a rate that
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(a) if the security to be redeemed was issued
before January 1, 1998, is substantially the
same as the rate the Government of Canada
would be required to pay if it were to borrow
the principal amount being redeemed for a
term equal to the remaining term of the
security to be redeemed through the
issuance of a security on the public capital
market; or
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(b) if the security to be redeemed was issued
after January 1, 1998, is substantially the
same as the rate the province would be
required to pay if it were to borrow the
principal amount being redeemed for a term
equal to the remaining term of the security
to be redeemed through the issuance of a
security on the public market.
|
|
| Subsection
114(2) does
not apply
|
46. (1) Subsection 114(2) of the Canada
Pension Plan does not apply in respect of the
amendments to that Act contained in this
Act.
|
|
| Coming into
force
|
(2) Section 45 comes into force, in
accordance with subsection 114(4) of the
Canada Pension Plan, on a day to be fixed by
order of the Governor in Council.
|
|
| R.S., c. S-15
|
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|
47. The Special Import Measures Act is
amended by adding the following after
section 97:
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|
|
| Orders
suspending
application
|
98. (1) The Governor in Council may, for
the purpose of ensuring that this Act complies
with the Subsidies Agreement, by order,
modify or suspend the application of any
provision, in whole or in part, of this Act with
respect to any country.
|
|
| Period of
order
|
(2) Unless revoked, an order made under
subsection (1) has effect for the period
specified in the order.
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