Her 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 economic statement tabled in Parliament on November 30, 2020 and other measures”.

Part 1 amends the Income Tax Act to provide additional support to families with young children as the coronavirus disease 2019 (COVID-19) pandemic progresses. It also amends the Children’s Special Allowances Act to provide a similar benefit in respect of young children under that Act. As part of the Government’s response to COVID-19, it amends the Income Tax Act to provide that an expense can qualify as a qualifying rent expense for the purposes of the Canada Emergency Rent Subsidy (CERS) when it becomes due rather than when it is paid, provided certain conditions are met.

Part 2 amends the Canada Student Loans Act to provide that, during the period that begins on April 1, 2021 and ends on March 31, 2022, no interest is payable by a borrower on a guaranteed student loan and no amount on account of interest is required to be paid by the borrower.

Part 3 amends the Canada Student Financial Assistance Act to provide that, during the period that begins on April 1, 2021 and ends on March 31, 2022, no interest is payable by a borrower on a student loan and no amount on account of interest is required to be paid by the borrower.

Part 4 amends the Apprentice Loans Act to provide that, during the period that begins on April 1, 2021 and ends on March 31, 2022, no interest is payable by a borrower on an apprentice loan and no amount on account of interest is required to be paid by a borrower.

Part 5 amends the Food and Drugs Act to authorize the Governor in Council to make regulations

It also amends that Act to provide that any prescribed provisions of regulations made under that Act apply to food, drugs, cosmetics and devices intended for export that would otherwise be exempt from the application of that Act.

Part 6 authorizes payments to be made out of the Consolidated Revenue Fund

Part 7 amends the Borrowing Authority Act to, among other things, increase the maximum amount of certain borrowings and include certain borrowings that were previously excluded in the calculation of that amount. It also makes a related amendment to the Financial Administration Act.

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

Deemed overpayment — COVID-19

(1.‍2) If the Minister determines before 2024 that an overpayment (for greater certainty, in an amount greater than nil) on account of a person’s liability under this Part for a taxation year is deemed to have arisen during a month under subsection (1), or would be so deemed if this section were read without reference to subsection (2), then an overpayment on account of the person’s liability under this Part for the year is deemed to have arisen during the month, equal to the total of all amounts each of which is an amount in respect of a qualified dependant — in respect of whom the person was an eligible individual at the beginning of the month who has not reached the age of six years at the beginning of the month — determined by the formula

• (b) subject to subsection (8), for the purpose of determining the amount deemed under subsection 122.‍61(1) or (1.‍2) to be an overpayment arising in that first month and any subsequent month on account of the eligible individual’s liability under this Part for the base taxation year in relation to that first month, the eligible individual’s adjusted income for the year is deemed to be equal to the eligible individual’s income for the year.

• (b) subject to subsection (8), for the purpose of determining the amount deemed under subsection 122.‍61(1) or (1.‍2) to be an overpayment arising in that first month and any subsequent month on account of the eligible individual’s liability under this Part for the base taxation year in relation to that first month, the eligible individual’s adjusted income for the year is deemed to be equal to the eligible individual’s income for the year.

• (b) subject to subsection (8), for the purpose of determining the amount deemed under subsection 122.‍61(1) or (1.‍2) to be an overpayment arising in that first month and any subsequent month on account of the eligible individual’s liability under this Part for the base taxation year in relation to that first month, the taxpayer is deemed to have been the eligible individual’s cohabiting spouse or common-law partner at the end of the base taxation year in relation to that month.

Deeming rule — qualifying rent expense

(12) For the purposes of the definition qualifying rent expense in subsection (1), an amount is deemed to have been paid by an eligible entity on the date it first became due under an agreement, and not at a later date, if the individual referred to in paragraph (b) of the definition qualifying renter in subsection (1) attests that the eligible entity intends to pay the amount due under the agreement no later than 60 days after the day on which the Minister makes the first refund under subsection 164(1.‍6) in respect of the amount deemed to have been paid (referred to in subsection (13) as the “payment deadline”).

Deeming rule — qualifying rent expense

(13) Subsection (12) is deemed not to have produced its effect if the amount due referred to in subsection (12) is not actually paid on or before the payment deadline.

Calculation of amount — COVID-19

(1.‍1) The amount of special allowance to be paid in respect of a child for a month, in addition to the amount determined under subsection (1), is $300, if

• (a) the child has not reached the age of six years at the beginning of the month; and

• (b) the month is

  • (i) January 2021,

  • (ii) April 2021,

  • (iii) July 2021, or

  • (iv) October 2021.

Period — April 1, 2021 to March 31, 2022

Suspension of interest and interest payments

11.‍3 During the period that begins on April 1, 2021 and ends on March 31, 2022,

• (a) no interest is payable by a borrower on a guaranteed student loan; and

• (b) no amount on account of interest in respect of a guaranteed student loan is required to be paid by the borrower.

Period — April 1, 2021 to March 31, 2022

Suspension of interest and interest payments

9.‍4 During the period that begins on April 1, 2021 and ends on March 31, 2022,

• (a) no interest is payable by a borrower on a student loan prescribed by regulations made under paragraph 15(1)‍(j); and

• (b) no amount on account of interest in respect of a student loan prescribed by regulations made under paragraph 15(1)‍(j) is required to be paid by the borrower.

Period — April 1, 2021 to March 31, 2022

Suspension of interest and interest payments

8.‍2 During the period that begins on April 1, 2021 and ends on March 31, 2022,

• (a) no interest is payable by a borrower on an apprentice loan; and

• (b) no amount on account of interest in respect of an apprentice loan is required to be paid by a borrower.

• (k.‍2) requiring persons to provide information to the Minister in respect of food, drugs, cosmetics or devices — or in respect of activities related to food, drugs, cosmetics or devices — in circumstances other than those provided for in this Act and authorizing the Minister to determine the information to be provided and the time and manner in which it is to be provided;

Regulations — preventing or alleviating shortages

(1.‍4) Without limiting the power conferred by any other subsection of this section, the Governor in Council may make any regulations that the Governor in Council considers necessary for the purpose of preventing shortages of therapeutic products in Canada or alleviating those shortages or their effects, in order to protect human health.

Exception — regulations

(1.‍2) Despite subsection (1), any prescribed provision of the regulations applies to any food, drug, cosmetic or device.

Maximum amount that may be borrowed

4 Despite section 3 and any other Act of Parliament, but subject to section 6, the total of the following amounts must not at any time exceed $1,831,000,000,000:

• (b) amounts borrowed by the Minister under an order made under paragraph 46.‍1(a) of that Act for the payment of any amount in respect of a debt that was originally incurred under an order made under paragraph 46.‍1(c) of that Act.

Exception — maximum amount exceeded

6 The Minister may borrow an amount under an order made under paragraph 46.‍1(a) or (b) of the Financial Administration Act even if that borrowing causes the maximum amount referred to in section 4 of this Act to be exceeded.

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