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Bill C-93

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RECOMMENDATION

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''.

SUMMARY

PART I

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.

PART II

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.

PART III

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.

PART IV

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.

PART V

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.

PART VI

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.

PART VII

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.

PART VIII

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.

PART IX

Part IX amends the Employment Insurance Act to

    (a) increase the threshold for refunds of employers' premiums to employers whose premiums increase during 1997 and 1998;

    (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

    (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.

PART X

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.

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.

PART XI

Part XI provides for the payment of $800 million plus interest to the Canada Foundation for Innovation.