Bill C-36
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RECOMMENDATION |
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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 24, 1998''.
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SUMMARY |
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PART 1 |
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Part 1 establishes the Canada Millennium Scholarship Foundation
with the objects and purposes of granting scholarships to students who
are in financial need and who demonstrate merit. An endowment of $2.5
billion is granted to the Foundation.
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PART 2 |
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Part 2 authorizes the Canada Development Investment Corporation
to dispose of or transfer its assets and liabilities, including its principal
asset, the Canada Hibernia Holding Corporation. It also authorizes the
dissolution of the Canada Development Investment Corporation.
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PART 3 |
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Part 3 provides that a person who takes advantage of the Early
Retirement Incentive Program (ERI) will not be entitled to a separation
benefit under the Work Force Adjustment Directive during the
transitional period following the expiration of the suspension of the
separation benefit (June 23, 1998) and September 30, 1998, the last
possible date by which a person must cease to be employed in the Public
Service in order to qualify for ERI.
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PART 4 |
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Part 4 enables the Kamloops Indian Band to impose a 7%
value-added tax on all sales of alcoholic beverages, tobacco products
and fuels on the reserves of the Kamloops Indian Band. It also amends
Part IV (Westbank First Nation Tobacco Products Tax) of the Budget
Implementation Act, 1997, to enable the Westbank First Nation to
impose a similar tax on alcoholic beverages. Consequential
amendments are also made to that Part and to Parts II and III (Cowichan
Tribes Tobacco Tax and Cowichan Tribes Tobacco Products Tax) of that
Act.
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PART 5 |
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Part 5 adds a new part to the Department of Human Resources
Development Act that provides for the payment of grants to encourage
savings under registered education savings plans.
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PART 6 |
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The amendments to the Federal-Provincial Fiscal Arrangements
Act in Part 6 are required to implement administration agreements with
aboriginal governments. In particular, the Minister of Finance or the
Minister of National Revenue may enter into an administration
agreement with an aboriginal government and payments can be made
out of the Consolidated Revenue Fund to an aboriginal government or
a person pursuant to the agreement.
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PART 7 |
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Part 7 amends the Excise Tax Act to implement increases in the excise
tax rates on cigarettes intended for retail sale in Ontario, Quebec, New
Brunswick, Nova Scotia and Prince Edward Island and on tobacco
sticks intended for retail sale in Canada.
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PART 8 |
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Part 8 amends the Excise Tax Act to implement reductions in the air
transportation tax. The amendments reduce the ad valorem tax rate on
domestic and transborder air travel, the specific rates on international
travel and the flat tax amount on domestic and transborder charter
flights.
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PART 9 |
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Part 9 amends the Income Tax Act to implement the Canada Child
Tax Benefit (CCTB) which will come into effect in July 1998. The
CCTB will provide a national benefit to all eligible families with
children. The Children's Special Allowance Act is also amended to
ensure that equivalent benefits are provided to provincial agencies for
children in care (e.g., foster homes and group homes). Social assistance
payments made by provinces and territories will be adjusted in
accordance with the increase in the CCTB.
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PART 10 |
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Part 10 amends the Canada Student Financial Assistance Act to
allow for debt reduction in repayment for full-time and part-time
students and to allow for the repayment of principal during special
interest-free and interest-reduced periods. It also amends the Act to
provide authority to prescribe the circumstances in which a loan or
certificate of eligibility may be denied.
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It amends the Canada Student Loans Act to allow for debt reduction
in repayment and for the repayment of principal during special
interest-free and interest-reduced periods.
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It amends the Bankruptcy and Insolvency Act to extend, from two
years to ten years after a bankrupt leaves school, the period of time
during which a discharge does not release the bankrupt from the
reimbursement of his or her student loan.
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PART 11 |
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Part 11 amends the Employment Insurance Act to provide a premium
holiday for 1999 and 2000 to employers who increase their payroll for
youth (ages 18 to 24) from their 1998 level.
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PART 12 |
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Part 12 amends the Old Age Security Act to allow for a payment
period from July of one year to June of the next, to revise the definition
of income, to provide for a more exact calculation for determining
benefit amounts for supplements and allowances, to provide for
consistency between the method of determining the entitlement of
widows who are sponsored and that used for determining the
entitlement of pensioners and their spouses, and to allow for more
consistency and responsiveness in the case of marital status changes.
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Part 12 also amends the War Veterans Allowances Act to allow for the
same payment period as in the Old Age Security Act - from July in one
year to June of the next and makes consequential changes to the Income
Tax Act.
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PART 13 |
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Part 13 amends the International Development (Financial
Institutions) Assistance Act to require the Minister of Foreign Affairs to
consult with the Minister of Finance before providing financial
assistance under the Act. Another amendment establishes that the
assistance is provided under a statutory appropriation.
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Part 13 amends the Bretton Woods and Related Agreements Act to
allow for the provision of financial assistance to countries with which
the International Monetary Fund has entered into arrangements to assist
them achieve financial stability. Another amendment establishes that
the assistance is provided under a statutory appropriation.
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That Act is also amended to provide authority to increase Canada's
quota in the International Monetary Fund as part of the overall quota
increase agreed under the Eleventh General Quota review and to
provide authority for Canada to receive a special one time special
drawing rights allocation made to International Monetary Fund through
an amendment to the Fund's Articles of Agreement.
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