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Excise Act, 2001

Version of section 43.1 from 2018-06-21 to 2020-10-05:


Marginal note:Definition of inflationary adjusted year

  •  (1) In this section, inflationary adjusted year means 2019 and every year after that year.

  • Marginal note:Annual adjustments

    (2) Each rate of duty set out in sections 1 to 4 of Schedule 1 and paragraph (a) of Schedule 2 in respect of a tobacco product is to be adjusted on April 1 of an inflationary adjusted year so that the rate is equal to the greater of

    • (a) the rate determined by the formula

      A × B

      where

      A
      is the rate of duty applicable to the tobacco product on March 31 of the inflationary adjusted year, and
      B
      is the amount, rounded to the nearest one-thousandth, or, if the amount is equidistant from two consecutive one-thousandths, rounded to the higher one-thousandth, determined by the formula

      C/D

      where

      C
      is the Consumer Price Index for the 12-month period ending on September 30 of the particular year preceding the inflationary adjusted year, and
      D
      is the Consumer Price Index for the 12-month period ending on September 30 of the year preceding the particular year; and
    • (b) the rate of duty referred to in the description of A in paragraph (a).

  • Marginal note:Rounding

    (3) The adjusted rate determined under subsection (2) is to be rounded to the nearest one-hundred-thousandth or, if the adjusted rate is equidistant from two consecutive one-hundred-thousandths, to the higher one-hundred-thousandth.

  • Marginal note:Consumer Price Index

    (4) In this section, the Consumer Price Index for any 12-month period is the result arrived at by

    • (a) aggregating the Consumer Price Index for Canada, as published by Statistics Canada under the authority of the Statistics Act, for each month in that period;

    • (b) dividing the aggregate obtained under paragraph (a) by 12; and

    • (c) rounding the result obtained under paragraph (b) to the nearest one-thousandth or, if the result obtained is equidistant from two consecutive one-thousandths, to the higher one-thousandth.

  • 2014, c. 20, s. 64
  • 2018, c. 12, s. 47
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