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Budget Implementation Act, 2006 (S.C. 2006, c. 4)

Assented to 2006-06-22

PART 5

OTHER TAX-RELATED AMENDMENTS

Marginal note:2002, c. 9, s. 5

Air Travellers Security Charge Act

  • 99. (1) Subsection 21(2) of the Air Travellers Security Charge Act is replaced by the following:

    • Marginal note:Small amounts payable

      (2) If, at any time, the total of all amounts payable by the Minister to a designated air carrier under this Act does not exceed $2.00, the Minister may apply those amounts against any amount owing, at that time, by the carrier to Her Majesty. However, if the carrier, at that time, does not owe any amount to Her Majesty, those amounts payable are deemed to be nil.

  • (2) Subsection (1) comes into force on April 1, 2007.

  • 100. (1) Section 25 of the Act is renumbered as subsection 25(1) and is amended by adding the following:

    • Marginal note:Effect of extension

      (2) If the Minister extends the time within which a person shall file a return or provide information under subsection (1),

      • (a) the return shall be filed, or the information shall be provided, within the time so extended;

      • (b) any amount payable that the person is required to report in the return shall be paid within the time so extended;

      • (c) any interest payable under section 27 on the amount referred to in paragraph (b) shall be calculated as though the amount were required to be paid on the day on which the extended time expires; and

      • (d) any penalty payable under section 53 in respect of the return shall be calculated as though the return were required to be filed on the day on which the extended time expires.

  • (2) Subsection (1) applies in respect of any extension of time that expires on or after April 1, 2007.

  • 101. (1) Subsection 27(1) of the Act is replaced by the following:

    Marginal note:Compound interest on amounts not paid when required

    • 27. (1) If a person fails to pay an amount to the Receiver General as and when required under this Act, the person shall pay to the Receiver General interest on the amount. The interest shall be compounded daily at the prescribed rate and computed for the period that begins on the first day after the day on or before which the amount was required to be paid and that ends on the day the amount is paid.

  • (2) Section 27 of the Act is amended by adding the following after subsection (2):

    • Marginal note:Payment before specified date

      (3) If the Minister has served a demand that a person pay on or before a specified date all amounts payable by the person under this Act on the date of the demand, and the person pays the amount demanded on or before the specified date, the Minister shall waive any interest that would otherwise apply in respect of the amount demanded for the period beginning on the first day following the date of the demand and ending on the day of payment.

  • (3) Subsection (1) comes into force on April 1, 2007.

  • (4) For the purposes of applying subsection 27(1) of the Act, as enacted by subsection (1), any penalty accrued before April 1, 2007 that remains unpaid on April 1, 2007 is deemed to be an amount required to be paid to the Receiver General on March 31, 2007.

  • (5) Subsection (2) comes into force on April 1, 2007, except that, in respect of any demand served before April 1, 2007 for which a penalty under subsection 53(1) of the Act, as it read on March 31, 2007, is payable, subsection 27(3) of the Act, as enacted by subsection (2), shall be read as follows:

    • (3) If the Minister has served a demand that a person pay on or before a specified date all amounts payable by the person under this Act on the date of the demand, and the person pays the amount demanded on or before the specified date, the Minister shall waive any penalty and interest that would otherwise apply in respect of the amount demanded for the period beginning on the first day following the date of the demand and ending on the day of payment.