Bill C-27

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Royal Assent

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	PART II
R.S., c. 2 (5th Supp.); 1991, c. 49	INCOME TAX APPLICATION RULES
	*118. (1) Subsection 26(10) of the Income Tax Application Rules* is replaced by the following:**
Where paragraph 128.1(1)(b) of amended Act applies	(10) Where subsection 48(3) of the amended Act, as it read in its application before 1993, or paragraph 128.1(1)(b) of the amended Act applies for the purpose of determining the cost to a taxpayer of any property, this section does not apply for that purpose.
	(2) Subsection (1) applies after 1992 except that, where a corporation elects in accordance with paragraph 111(4)(a), subsection (1) applies to the corporation from the corporation's time of continuation (within the meaning assigned by that paragraph).
	119. (1) Paragraph 72(a) of the Act is replaced by the following:
	(a) Parts I, I.1, I.2, I.3, II.1, IV, IV.1, V, VI, VI.1, VII, VIII, IX, XI.3, XII, XII.1, XII.2, XII.3 and XIV of that Act apply with respect to taxation years that ended before December 1991;
	(2) Subsection (1) shall be deemed to have come into force on March 1, 1994.
	120. (1) Paragraph 73(a) of the Act is replaced by the following:
	(a) Parts I, I.1, I.2, I.3, II.1, IV, IV.1, V, VI, VI.1, VII, VIII, IX, XI.3, XII, XII.1, XII.2, XII.3 and XIV of that Act apply with respect to taxation years that end after November 1991;
	(2) Subsection (1) shall be deemed to have come into force on March 1, 1994.
	121. (1) The Act is amended by adding the following after section 78:
Effect of amendments on former ITA	79. (1) Where a provision of an enactment amends the Income Tax Act or affects the application of the Income Tax Act and the provision applies to or with respect to a period, transaction or event to which the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, applies, the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, shall be read as if it had been amended or its application had been affected by the provision, with such modifications as the circumstances require, to the extent of the provision's application to or with respect to that period, transaction or event.
Effect of amendments on former ITAR	(2) Where a provision of an enactment amends this Act or affects the application of this Act and the provision applies to or with respect to a period, transaction or event to which the Income Tax Application Rules, 1971, Part III of chapter 63 of the Statutes of Canada, 1970-71-72, apply, the Income Tax Application Rules, 1971, Part III of chapter 63 of the Statutes of Canada, 1970-71-72, shall be read as if they had been amended or their application had been affected by the provision, with such modifications as the circumstances require, to the extent of the provision's application to or with respect to that period, transaction or event.
	(2) Subsection (1) shall be deemed to have come into force on March 2, 1994.
	122. (1) The schedule to the 5th Supplement to the Revised Statutes of Canada, 1985 is amended by replacing the reference to ``XII, XII.2'' with ``XII, XII.1, XII.2''.
	(2) Subsection (1) shall be deemed to have come into force on March 1, 1994.
	PART III
R.S., c. C-8; R.S., cc. 6, 41 (1st Supp.), cc. 5, 13, 27, 30 (2nd Supp.), cc. 18, 38 (3rd Supp.), cc. 1, 46, 51 (4th Supp.); 1990, c. 8; 1991, cc. 14, 44, 49; 1992, cc. 1, 2, 27, 48; 1993, cc. 24, 27, 28	CANADA PENSION PLAN
R.S., c. 5 (2nd Supp.), s. 1(2); 1992, c. 27, s. 90(1)(d)	*123. Subsections 23(3) and (4) of the Canada Pension Plan* are replaced by the following:**
Where amount deducted not remitted	(3) Where an employer has deducted an amount from the remuneration of an employee as or on account of any contribution required to be made by the employee but has not remitted the amount to the Receiver General, the employer shall be deemed to hold the amount so deducted in trust, separate and apart from the employer's own moneys, for Her Majesty and for payment to Her Majesty in the manner and at the time provided under this Act, and Her Majesty has a lien and charge on the property and assets of the employer whether or not the employer has kept the amount separate and apart or is in receivership, bankruptcy or liquidation or has made an assignment.
1993, c. 24, s. 146(1)	124. (1) The portion of subsection 34(4) of the Act after paragraph (d) is replaced by the following:

	whichever method gives rise to the least total amount of those parts or instalments required to be paid by the person by that day.
	(2) Subsection (1) applies to 1992 and subsequent years.
	PART IV
R.S., c. C-44; R.S., c. 27 (1st Supp.), c. 27 (2nd Supp.), c. 1 (4th Supp.); 1990, c. 17; 1991, cc. 45, 46, 47; 1992, cc. 1, 27, 51; 1993, c. 28	CANADA BUSINESS CORPORATIONS ACT
	125. (1) Subsection 174(1) of the Canada Business Corporations Act is amended by striking out the word ``or'' at the end of paragraph (c), by adding the word ``or'' at the end of paragraph (d) and by adding the following after paragraph (d):
	(e) the issue, transfer or ownership of shares of any class or series to enable the corporation to be a registered labour-sponsored venture capital corporation under Part X.3 of the Income Tax Act.
	(2) Subsection (1) applies after 1988.
	PART V
R.S., c. E-15; R.S., c. 15 (1st Supp.), cc. 1, 7, 42 (2nd Supp.), cc. 18, 28, 41, 42 (3rd Supp.), cc. 12, 47 (4th Supp.); 1988, c. 65; 1989, c. 22; 1990, c. 45; 1991, c. 42; 1992, cc. 1, 27, 28, 29; 1993, cc. 25, 27, 28, 38	EXCISE TAX ACT
1993, c. 27, s. 40(1)	*126. (1) Subparagraphs 173(1)(b)(iii), (iv), (v) and (vi) of the French version of the Excise Tax Act* are renumbered as subparagraphs 173(1)(b)(iv), (v), (vi) and (vii), respectively.**
1993, c. 27, s. 40(1)	(2) Paragraph 173(1)(c) of the Act is replaced by the following:

	(c) an amount (in this subsection referred to as the ``benefit amount'') in respect of the property or service is required under paragraph 6(1)(a), (e), (k) or (l) or subsection 15(1) of the Income Tax Act to be included in computing the person's income for a taxation year of the person,
1993, c. 27, s. 40(1)	(3) Paragraph 173(1)(e) of the Act is amended by striking out the word ``and'' at the end of subparagraph (v) and by replacing subparagraph (vi) with the following:
	(vi) tax calculated on the adjusted benefit shall be deemed to have become collectible, and to have been collected, by the registrant
	(A) in the case of a supply in respect of which an amount is required under paragraph 6(1)(a), (e), (k) or (l) of the Income Tax Act to be included in computing the person's income for a particular taxation year of the person, on the last day of February of the year immediately following the particular taxation year, and
	(B) in the case of a supply in respect of which an amount is required under subsection 15(1) of that Act to be included in computing the person's income, on the last day of the registrant's taxation year in which the property or service is so supplied to the person, and
	(vii) where the benefit amount is an amount that is or would, if the person were an employee of the registrant, be required under paragraph 6(1)(k) or (l) of the Income Tax Act to be included in computing the person's income, the tax calculated on the adjusted benefit shall be deemed to be equal to the prescribed percentage of the adjusted benefit.
	*(4) Subsections (1) to (3) apply to amounts required to be included in computing a person's income for the purposes of the Income Tax Act* for the 1993 and subsequent taxation years.**
1990, c. 45, s. 12(1)	127. Subsection 288(3) of the Act is replaced by the following:
Application	(3) Where, on ex parte application by the Minister, a judge is satisfied by information on oath that
	(a) there are reasonable grounds to believe that a dwelling-house is a premises or place referred to in paragraph (1)(a),
	(b) entry into the dwelling-house is necessary for any purpose relating to the administration or enforcement of this Part, and
	(c) entry into the dwelling-house has been, or there are reasonable grounds to believe that entry will be, refused,
	the judge may issue a warrant authorizing an authorized person to enter the dwelling-house subject to such conditions as are specified in the warrant, but, where the judge is not satisfied that entry into the dwelling-house is necessary for any purpose related to the administration or enforcement of this Part, the judge may
	(d) order the occupant of the dwelling-house to provide an authorized person with reasonable access to any document or property that is or should be kept in the dwelling-house, and
	(e) make such other order as is appropriate in the circumstances to carry out the purposes of this Part,
	to the extent that access was or may be expected to be refused and that the document or property is or may be expected to be kept in the dwelling-house.
1990, c. 45, s. 12(1)	128. Subsection 290(3) of the Act is replaced by the following:
Issue of warrant	(3) A judge may issue a warrant referred to in subsection (1) where the judge is satisfied that there are reasonable grounds to believe that
	(a) an offence under this Part has been committed;
	(b) a document or thing that may afford evidence of the commission of the offence is likely to be found; and
	(c) the building, receptacle or place specified in the application is likely to contain such a document or thing.
	PART VI
R.S., c. U-1; R.S., cc. 26, 27 (1st Supp.), cc. 5, 43 (2nd Supp.), cc. 14, 36, 38 (3rd Supp.), cc. 1, 4, 46, 51, 53 (4th Supp.); 1990, cc. 8, 40; 1991, cc. 49, 51; 1992, cc. 1, 27; 1993, cc. 1, 13, 24, 27, 34	UNEMPLOYMENT INSURANCE ACT
1993, c. 24, s. 151(1)	*129. (1) Subsection 53(1) of the Unemployment Insurance Act* is replaced by following:**
Deduction and payment of premiums	53. (1) Every employer paying remuneration to a person employed by the employer in insurable employment shall deduct from that remuneration as or on account of the employee's premium payable by that insured person under section 51 for any week or weeks in respect of which that remuneration is paid such amount as is determined in accordance with prescribed rules and shall remit that amount, together with the employer's premium payable by the employer under that section for such week or weeks, to the Receiver General at such time and in such manner as is prescribed and, where at that prescribed time the employer is a prescribed person, the remittance shall be made to the account of the Receiver General at a financial institution (within the meaning that would be assigned by the definition ``financial institution'' in subsection 190(1) of the Income Tax Act if that definition were read without reference to paragraphs (d) and (e) thereof).
	(2) Subsection (1) applies after 1994.
R.S., c. 5 (2nd Supp.), s. 4(1); 1990, c. 40, s. 34; 1992, c. 27, s. 90(1)(n)	130. Subsections 57(2) and (3) of the Act are replaced by the following:
Amounts deducted and not remitted	(2) Where an employer has deducted an amount from the remuneration of an insured person as or on account of any employee's premium required to be made by the insured person but has not remitted the amount to the Receiver General, the employer shall be deemed to hold the amount so deducted in trust, separate and apart from the employer's own moneys, for Her Majesty and for payment to her Majesty in the manner and at the time provided under this Act, and Her Majesty has a lien and charge on the property and assets of the employer whether or not the employer has kept the amount separate and apart or is in receivership, bankruptcy or liquidation or has made an assignment.
	131. (1) Paragraph 75(1)(p) of the Act is repealed.
	(2) Subsection 75(5) of the Act is replaced by the following:
Regulations	(5) A regulation made under paragraph (1)(r) prescribing rules referred to in subsection 53(1) shall have effect from the day it is published in the Canada Gazette or from such later or earlier day, if any, specified in the regulation.
	(3) Subsections (1) and (2) apply after 1994.