Budget Implementation Act, 2023, No. 1 (S.C. 2023, c. 26)

• 121 (1) Subparagraph (i) of the description of H in the definition pension rebate amount in subsection 261.01(1) of the Act is replaced by the following:

  • (i) if an application for a rebate under subsection (2) for the claim period is filed in accordance with subsection (3), the total of

    • (A) the total amount indicated on the application under subsection (3.1), and

    • (B) the total of all amounts, each of which is an eligible amount of the pension entity for the claim period that is described in paragraph (b) of the definition eligible amount and in respect of which a portion of the rebate is claimed by the pension entity in accordance with paragraph (3.2)(a),

• (2) The portion of subsection 261.01(3.1) of the Act before paragraph (a) is replaced by the following:

  • Marginal note:Application for rebate — pension rebate amount election

    (3.1) An application for a rebate under subsection (2) for a claim period of a pension entity shall indicate the total of all amounts, each of which is an eligible amount of the pension entity for the claim period (other than an eligible amount in respect of which a portion of the rebate is claimed by the pension entity in accordance with paragraph (3.2)(a))

• (3) Section 261.01 of the Act is amended by adding the following after subsection (3.1):

  • Marginal note:Separate claims for a claim period

    (3.2) If an eligible amount of a pension entity for a claim period of the pension entity is an amount of tax that is deemed to have been paid under subparagraph 172.1(8.01)(b)(i), or to have become payable under section 172.11, the following rules apply:

    • (a) the portion of the rebate under subsection (2) for the claim period that is in respect of the excess pension rebate amount for the claim period in respect of the eligible amount may, despite subsection (4), be claimed in an application separate from the pension entity’s application for the portion of that rebate that is in respect of the remaining pension rebate amount for the claim period provided that the application for the portion of that rebate that is in respect of that excess pension rebate amount is filed by the pension entity after the beginning of the pension entity’s fiscal year that includes the claim period and not later than

      • (i) if the pension entity is a registrant, the day on or before which the pension entity is required to file the return under Division V for the claim period, or

      • (ii) in any other case, the last day of the claim period; and

    • (b) a particular election under subsection (5) or (6) for the claim period that is in respect of the excess pension rebate amount for the claim period in respect of the eligible amount may be made separately from an election under subsection (5) or (6), as the case may be, that is in respect of the remaining pension rebate amount for the claim period provided that the portion of the rebate under subsection (2) for the claim period that is in respect of that excess pension rebate amount is claimed by the pension entity in a separate application that is filed in accordance with paragraph (a) and the particular election is filed at the same time that the application is filed.

  • Marginal note:Definitions

    (3.3) The following definitions apply in this subsection and subsection (3.2).

    excess pension rebate amount

    excess pension rebate amount for a claim period of a pension entity means, in respect of an amount of tax deemed to have been paid under subparagraph 172.1(8.01)(b)(i), or to have become payable under section 172.11, by the pension entity during the claim period, the amount that would be the pension rebate amount of the pension entity for the claim period if the amount of tax were the only eligible amount of the pension entity for the claim period. (excédent du montant de remboursement de pension)

    remaining pension rebate amount

    remaining pension rebate amount for a claim period of a pension entity means the amount determined by the formula

    A − B

    where

    A

    is the pension rebate amount of the pension entity for the claim period; and

    B

    is the total of all amounts, each of which is an excess pension rebate amount for the claim period in respect of which a portion of the rebate under subsection (2) for the claim period is claimed by the pension entity in accordance with paragraph (3.2)(a). (solde du montant de remboursement de pension)

• (4) Subsections (1) to (3) are deemed to have come into force on August 10, 2022.

• 122 (1) Subsection 1(1) of Part VII of Schedule VI to the Act is amended by adding the following in alphabetical order:

  tangible personal property includes money;

• (2) Subsection (1) is deemed to have come into force on August 10, 2022. It also applies in respect of a supply made before that date unless the supplier charged or collected, before that date, any amount as or on account of tax under Part IX of the Act in respect of the supply.

SOR/2001-171Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations

• 123 (1) Clauses (iii)(C) and (D) of the description of G₃ in paragraph 46(a) of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations are replaced by the following:

  • (C) if a tax adjustment note is issued to the financial institution under subsection 232.01(3) of the Act in respect of all or part of a specified resource, if a supply of the specified resource or part is deemed for the purposes of section 232.01 of the Act to have been received by the financial institution under subparagraph 172.1(5)(d)(i) or (5.1)(d)(i) of the Act and if tax in respect of the supply is deemed for the purposes of section 232.01 of the Act to have been paid on a particular day under subparagraph 172.1(5)(d)(ii) or (5.1)(d)(ii) or paragraph 172.1(8.01)(b) of the Act by the financial institution, an amount that the financial institution would be required by paragraph 232.01(5)(c) of the Act to pay during the particular reporting period to the Receiver General as a result of the issuance of the tax adjustment note if the financial institution were a selected listed financial institution on the particular day, or

  • (D) if a tax adjustment note is issued to the financial institution under subsection 232.02(2) of the Act in respect of employer resources, if particular supplies (as referred to in subsection 232.02(4) of the Act) of those employer resources are deemed for the purposes of section 232.02 of the Act to have been received by the financial institution under subparagraph 172.1(6)(d)(i) or (6.1)(d)(i) of the Act and if tax in respect of each of the particular supplies is deemed for the purposes of section 232.02 of the Act to have been paid under subparagraph 172.1(6)(d)(ii) or (6.1)(d)(ii) or paragraph 172.1(8.01)(b) of the Act by the financial institution, an amount that the financial institution would be required by paragraph 232.02(4)(c) of the Act to pay during the particular reporting period to the Receiver General as a result of the issuance of the tax adjustment note if the financial institution were a selected listed financial institution on the first day on which an amount of tax is deemed for the purposes of section 232.02 of the Act to have been paid in respect of the particular supplies,

• (2) Subsection (1) applies in respect of any reporting period of a person that ends after August 9, 2022.

PART 3Amendments to the Excise Act, the Excise Act, 2001 and the Air Travellers Security Charge Act

DIVISION 1Excise Act and Excise Act, 2001 (Alcohol Products)

R.S., c. E-14Excise Act

• 124 (1) Section 170.2 of the Excise Act is amended by adding the following after subsection (2):

  • Marginal note:Adjustment — 2023

    (2.1) In respect of the inflationary adjusted year that is 2023, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.

• (2) Subsection (1) is deemed to have come into force on April 1, 2023.

2002, c. 22Excise Act, 2001

• 125 (1) Section 123.1 of the Excise Act, 2001 is amended by adding the following after subsection (2):

  • Marginal note:Adjustment — 2023

    (2.1) In respect of the inflationary adjusted year that is 2023, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.

• (2) Subsection (1) is deemed to have come into force on April 1, 2023.

• 126 (1) Section 135.1 of the Act is amended by adding the following after subsection (2):

  • Marginal note:Adjustment — 2023

    (2.1) In respect of the inflationary adjusted year that is 2023, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.

• (2) Subsection (1) is deemed to have come into force on April 1, 2023.

DIVISION 2Air Travellers Security Charge Act (Charge Rates)

2002, c. 9, s. 5Air Travellers Security Charge Act

• 127 (1) The portion of paragraph 12(1)(a) of the Air Travellers Security Charge Act before subparagraph (i) is replaced by the following:

  • (a) $9.46 for each chargeable emplanement included in the service, to a maximum of $18.92, if

• (2) The portion of paragraph 12(1)(b) of the Act before subparagraph (i) is replaced by the following:

  • (b) $9.94 for each chargeable emplanement included in the service, to a maximum of $19.87, if

• (3) The portion of paragraph 12(1)(c) of the Act before subparagraph (i) is replaced by the following:

  • (c) $16.08 for each chargeable emplanement included in the service, to a maximum of $32.16, if

• (4) The portion of paragraph 12(1)(d) of the Act before subparagraph (i) is replaced by the following:

  • (d) $16.89 for each chargeable emplanement included in the service, to a maximum of $33.77, if

• (5) Paragraph 12(1)(e) of the Act is replaced by the following:

  • (e) $34.42, if the service includes transportation to a destination outside the continental zone.

• (6) The portion of paragraph 12(2)(a) of the Act before subparagraph (i) is replaced by the following:

  • (a) $16.08 for each chargeable emplanement by an individual on an aircraft used to transport the individual to a destination outside Canada but within the continental zone, to a maximum of $32.16, if

• (7) The portion of paragraph 12(2)(b) of the Act before subparagraph (i) is replaced by the following:

  • (b) $16.89 for each chargeable emplanement by an individual on an aircraft used to transport the individual to a destination outside Canada but within the continental zone, to a maximum of $33.77, if

• (8) Paragraph 12(2)(c) of the Act is replaced by the following:

  • (c) $34.42, if the service includes transportation to a destination outside the continental zone.

• (9) Subsections (1) to (8) apply in respect of an air transportation service that includes a chargeable emplanement after April 2024 unless

  • (a) if any consideration is paid or payable in respect of the service, all of the consideration is paid before May 2024; or

  • (b) if no consideration is paid or payable in respect of the service, a ticket is issued before May 2024.

PART 4Various Measures

DIVISION 11991, c. 46Bank Act

Amendments to the Act

128 The definition external complaints body in section 2 of the Bank Act is replaced by the following:

129 Section 627.48 of the Act is replaced by the following: