Budget Implementation Act, 2007 (S.C. 2007, c. 29)
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Act current to 2024-11-26 and last amended on 2016-06-22. Previous Versions
Budget Implementation Act, 2007
S.C. 2007, c. 29
Assented to 2007-06-22
An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2007
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Short Title
Marginal note:Short title
1 This Act may be cited as the Budget Implementation Act, 2007.
PART 1Amendments Related to Income Tax
Income Tax Act
2 [Amendment]
3 [Amendment]
4 [Amendment]
5 [Amendment]
6 [Amendment]
7 [Amendment]
8 [Amendments]
9 [Amendments]
10 [Amendment]
11 [Amendment]
12 [Amendments]
13 [Amendment]
14 [Amendment]
15 [Amendment]
16 [Amendment]
17 [Amendments]
18 [Amendments]
19 [Amendments]
20 [Amendments]
21 [Amendments]
22 [Amendment]
23 [Amendment]
24 [Amendment]
25 [Amendment]
26 [Amendments]
27 [Amendment]
28 [Amendment]
29 [Amendment]
Income Tax Regulations
30 [Amendment]
31 [Amendment]
32 [Amendments]
33 [Amendment]
34 [Amendment]
35 [Amendments]
36 [Amendments]
Canada Education Savings Act
37 [Amendments]
Canada Education Savings Regulations
38 [Amendment]
Coordinating Amendments
39 [Amendment]
40 [Amendment]
41 [Amendment]
42 [Amendment]
PART 2Amendments to the Excise Tax Act (Other than with Respect to the Goods and Services Tax/Harmonized Sales Tax)
43 [Amendment]
44 [Amendment]
PART 3Amendments in Respect of the Goods and Services Tax/Harmonized Sales Tax
Excise Tax Act
45 [Amendment]
46 [Amendment]
47 [Amendments]
48 [Amendment]
49 [Amendments]
50 [Amendment]
51 [Amendment]
52 [Amendment]
Coordinating Amendments
53 [Amendment]
PART 4Other Measures Relating to Taxation
Customs Tariff
54 [Amendment]
Federal-Provincial Fiscal Arrangements Act
55 [Amendment]
56 [Amendment]
Marginal note:Coming into force
57 Sections 55 and 56 are deemed to have come into force on July 1, 2000.
Payments to Ontario
Marginal note:Payment of $250,000,000
58 For the fiscal year beginning on April 1, 2007, from and out of the Consolidated Revenue Fund, there may be paid, on the requisition of the Minister of Finance, an amount of $250,000,000 to the Province of Ontario, to assist the province in the transition to a single corporate tax administration.
Marginal note:Payment of $150,000,000
59 For the fiscal year beginning on April 1, 2008, from and out of the Consolidated Revenue Fund, there may be paid, on the requisition of the Minister of Finance, an amount of $150,000,000 to the Province of Ontario, to assist the province in the transition to a single corporate tax administration.
PART 5Tax-back Guarantee Act
Marginal note:Enactment of Act
60 The Tax-back Guarantee Act is enacted as follows:
[See Tax-back Guarantee Act]
PART 6Federal-Provincial Fiscal Arrangements Act
Amendments to Act
61 [Amendment]
62 [Amendment]
63 [Amendment]
64 [Amendment]
65 [Amendment]
66 [Amendment]
67 [Amendment]
68 [Amendments]
69 [Amendments]
70 [Amendment]
71 [Amendments]
72 [Amendment]
73 [Amendment]
74 [Amendment]
Transitional Provisions
75 [Transitional provision]
76 [Transitional provision]
77 [Transitional provision]
Consequential Amendments
Canada-Newfoundland Atlantic Accord Implementation Act
78 [Repealed, 2007, c. 35, s. 169]
79 [Amendment]
80 [Amendment]
Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act
81 [Amendment]
82 [Amendment]
83 [Repealed, 2007, c. 35, s. 170]
Coming into Force
Marginal note:Newfoundland and Labrador
84 (1) Sections 79 and 82 come into force, or are deemed to have come into force, on April 1 of the first fiscal year in respect of which Newfoundland and Labrador makes the election under subsection 3.7(3) of the Federal-Provincial Fiscal Arrangements Act.
Marginal note:Notice
Footnote *(2) The Minister of Finance shall publish in the Canada Gazette the date on which sections 79 and 82 come into force.
Return to footnote *[Note: Sections 79 and 82 in force April 1, 2010, see Canada Gazette Part I, Volume 146, page 26.]
Marginal note:Nova Scotia
(3) Section 81 comes into force, or is deemed to have come into force, on April 1, 2008.
- 2007, c. 29, s. 84, c. 35, s. 171
PART 7Amendments to the Financial Administration Act
Financial Administration Act
85 [Amendment]
86 [Amendment]
87 [Amendment]
88 [Amendment]
Coming into Force
Marginal note:Order in council
Footnote *89 This Part comes into force on a day to be fixed by order of the Governor in Council.
Return to footnote *[Note: Part 7 in force October 26, 2007, see SI/2007-95.]
PART 8Amendments to the Canada Mortgage and Housing Corporation Act
90 [Amendments]
PART 9Amendments Relating to Eligible Financial Contracts
Bankruptcy and Insolvency Act
91 [Amendments]
92 [Amendments]
93 [Amendment]
94 [Amendment]
95 [Amendment]
96 [Amendment]
97 [Amendment]
98 [Amendment]
99 [Amendment]
100 [Amendment]
101 [Amendment]
102 [Amendment]
Canada Deposit Insurance Corporation Act
103 [Amendments]
Companies’ Creditors Arrangement Act
104 [Amendments]
105 [Amendment]
106 [Amendments]
107 [Amendment]
108 [Amendment]
109 [Amendment]
Payment Clearing and Settlement Act
110 [Amendment]
111 [Amendments]
112 [Amendments]
Winding-up and Restructuring Act
113 [Amendments]
114 [Amendment]
115 [Amendment]
116 [Amendment]
Transitional Provisions
117 [Transitional provision]
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