Economic Recovery Act (stimulus) (S.C. 2009, c. 31)
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Assented to 2009-12-15
PART 1AMENDMENTS RELATED TO INCOME TAX
R.S., c. 1 (5th Supp.)Income Tax Act
10. (1) Section 118.92 of the Act is replaced by the following:
Marginal note:Ordering of credits
118.92 In computing an individual’s tax payable under this Part, the following provisions shall be applied in the following order: subsections 118(1) and (2), section 118.7, subsections 118(3) and (10) and sections 118.01, 118.02, 118.03, 118.04, 118.05, 118.3, 118.61, 118.5, 118.6, 118.9, 118.8, 118.2, 118.1, 118.62 and 121.
(2) Subsection (1) applies to the 2009 and subsequent taxation years.
11. (1) Section 118.94 of the Act is replaced by the following:
Marginal note:Tax payable by non-residents (credits restricted)
118.94 Sections 118 to 118.05 and 118.2, subsections 118.3(2) and (3) and sections 118.6, 118.8 and 118.9 do not apply for the purpose of computing the tax payable under this Part for a taxation year by an individual who at no time in the year is resident in Canada unless all or substantially all of the individual’s income for the year is included in computing the individual’s taxable income earned in Canada for the year.
(2) Subsection (1) applies to the 2009 and subsequent taxation years.
12. (1) Paragraphs 118.95(a) and (b) of the Act are replaced by the following:
(a) such of the deductions as the individual is entitled to under any of subsections 118(3) and (10) and sections 118.01 to 118.2, 118.5, 118.6, 118.62 and 118.7, as can reasonably be considered wholly applicable to the taxation year, and
(b) such part of the deductions as the individual is entitled to under any of sections 118 (other than subsections 118(3) and (10)), 118.3, 118.8 and 118.9 as can reasonably be considered applicable to the taxation year,
(2) Subsection (1) applies to the 2009 and subsequent taxation years.
13. (1) The descriptions of A and B in subsection 122.7(2) of the Act are replaced by the following:
- A
- is
(a) if the individual had neither an eligible spouse nor an eligible dependant, for the taxation year, the lesser of $925 and 25% of the amount, if any, by which the individual’s working income for the taxation year exceeds $3,000, or
(b) if the individual had an eligible spouse or an eligible dependant, for the taxation year, the lesser of $1,680 and 25% of the amount, if any, by which the total of the working incomes of the individual and, if applicable, of the eligible spouse, for the taxation year, exceeds $3,000; and
- B
- is
(a) if the individual had neither an eligible spouse nor an eligible dependant, for the taxation year, 15% of the amount, if any, by which the adjusted net income of the individual for the taxation year exceeds $10,500, or
(b) if the individual had an eligible spouse or an eligible dependant, for the taxation year, 15% of the amount, if any, by which the total of the adjusted net incomes of the individual and, if applicable, of the eligible spouse, for the taxation year, exceeds $14,500.
(2) The descriptions of C and D in subsection 122.7(3) of the Act are replaced by the following:
- C
- is the lesser of $462.50 and 25% of the amount, if any, by which the individual’s working income for the taxation year exceeds $1,150; and
- D
- is
(a) if the individual had neither an eligible spouse nor an eligible dependant, for the taxation year, 15% of the amount, if any, by which the individual’s adjusted net income for the taxation year exceeds $16,667,
(b) if the individual had an eligible spouse for the taxation year who was not entitled to deduct an amount under subsection 118.3(1) for the taxation year, or had an eligible dependant for the taxation year, 15% of the amount, if any, by which the total of the adjusted net incomes of the individual and, if applicable, of the eligible spouse, for the taxation year, exceeds $25,700, or
(c) if the individual had an eligible spouse for the taxation year who was entitled to deduct an amount under subsection 118.3(1) for the taxation year, 7.5% of the amount, if any, by which the total of the adjusted net incomes of the individual and of the eligible spouse, for the taxation year, exceeds $25,700.
(3) Subsections (1) and (2) apply to the 2009 and subsequent taxation years.
14. (1) Paragraph 127.531(a) of the Act is replaced by the following:
(a) an amount deducted under subsection 118(1), (2) or (10) or 118.3(1) or any of sections 118.01 to 118.05 and 118.5 to 118.7 in computing the individual’s tax payable for the year under this Part; or
(2) Subsection (1) applies to the 2009 and subsequent taxation years.
15. (1) Clause 128(2)(e)(iii)(A) of the Act is replaced by the following:
(A) under any of sections 118 to 118.05, 118.2, 118.3, 118.5, 118.6, 118.8 and 118.9,
(2) Subsection (1) applies to the 2009 and subsequent taxation years.
C.R.C., c. 945Income Tax Regulations
16. Section 7305 of the Income Tax Regulations is amended by striking out “and” at the end of paragraph (i) and by adding the following after paragraph (j):
(k) the 2007 calendar year are
(i) in Ontario, the Cities of Hamilton, Kawartha Lakes and Toronto, the Counties of Brant, Bruce, Dufferin, Elgin, Essex, Frontenac, Grey, Haldimand, Hastings, Huron, Lambton, Lennox and Addington, Middlesex, Northumberland, Norfolk, Oxford, Perth, Peterborough, Prince Edward, Simcoe and Wellington, the Municipality of Chatham-Kent, the Regional Municipalities of Durham, Halton, Niagara, Peel, Waterloo and York, the Territorial Districts of Algoma, Manitoulin and Thunder Bay and the United Counties of Leeds and Grenville,
(ii) in British Columbia, the Regional Districts of Central Kootenay, East Kootenay, Kootenay Boundary and Okanagan-Similkameen,
(iii) in Saskatchewan, the Rural Municipalities of Arlington, Auvergne, Bengough, Big Stick, Bone Creek, Carmichael, Coulee, Excel, Excelsior, Frontier, Glen Bain, Glen McPherson, Grassy Creek, Gull Lake, Happy Valley, Hart Butte, Lac Pelletier, Lake of the Rivers, Lawtonia, Lone Tree, Mankota, Maple Creek, Miry Creek, Morse, Old Post, Piapot, Pinto Creek, Pittville, Poplar Valley, Reno, Riverside, Saskatchewan Landing, Stonehenge, Swift Current, Val Marie, Waverley, Webb, Whiska Creek, White Valley, Willow Bunch, Wise Creek and Wood River, and
(iv) in Alberta, the Counties of Cardston, Cypress, Forty Mile, Lethbridge and Warner, the Municipal Districts of Pincher Creek, Ranchland, Taber and Willow Creek and the Municipality of Crowsnest Pass;
(l) the 2008 calendar year are
(i) in Manitoba, the Municipality of Killarney-Turtle Mountain and the Rural Municipalities of Albert, Arthur, Brenda, Cameron, Edward, Glenwood, Morton, Pipestone, Riverside, Sifton, Whitewater and Winchester,
(ii) in British Columbia, the Regional Districts of Central Kootenay, East Kootenay, Kootenay Boundary and Peace River,
(iii) in Saskatchewan, the Rural Municipalities of Argyle, Arlington, Auvergne, Baildon, Bengough, Benson, Bone Creek, Bratt’s Lake, Brokenshell, Browning, Caledonia, Cambria, Caron, Coalfields, Cymri, Elmsthorpe, Enniskillen, Estevan, Excel, Francis, Frontier, Glen Bain, Glen McPherson, Grassy Creek, Gravelbourg, Griffin, Hillsborough, Happy Valley, Hart Butte, Key West, Lac Pelletier, Lajord, Lake Alma, Lake Johnston, Lake of the Rivers, Laurier, Lomond, Lone Tree, Mankota, Marquis, Moose Creek, Moose Jaw, Mount Pleasant, Norton, Old Post, Pense, Pinto Creek, Poplar Valley, Redburn, Reciprocity, Rodgers, Scott, Shamrock, Sherwood, Souris Valley, Surprise Valley, Stonehenge, Storthoaks, Sutton, Tecumseh, Terrell, The Gap, Val Marie, Waverley, Wellington, Weyburn, Whiska Creek, White Valley, Willow Bunch, Wise Creek and Wood River, and
(iv) in Alberta, the Counties of Birch Hills, Clear Hills, Grande Prairie and Saddle Hills and the Municipal Districts of Fairview and Spirit River; and
(m) the 2009 calendar year are
(i) in British Columbia, the Census Subdivisions Cariboo D, E, G and K, Central Kootenay A to E, G, H, J and K, Central Okanagan, Central Okanagan J, Columbia-Shuswap C to F, Kootenay Boundary B to E, North Okanagan B and D to F, Okanagan-Similkameen A to H, Spallumcheen, Squamish-Lillooet A to C and Thompson-Nicola E (Bonaparte Plateau), I (Blue Sky Country), J (Copper Desert Country), L, M, N, O (Lower North Thompson) and P (Rivers and the Peaks), as these subdivisions were developed by Statistics Canada for the 2006 Census,
(ii) in Saskatchewan, the Rural Municipalities of Antelope Park, Auvergne, Battle River, Biggar, Bone Creek, Britannia, Buffalo, Canaan, Chaplin, Chesterfield, Clinworth, Coteau, Coulee, Cut Knife, Deer Forks, Eagle Creek, Eldon, Enfield, Excelsior, Eye Hill, Fertile Valley, Glen Bain, Glen McPherson, Glenside, Grandview, Grass Lake, Grassy Creek, Gravelbourg, Happyland, Harris, Heart’s Hill, Hillsdale, Kindersley, King George, Lacadena, Lac Pelletier, Lawtonia, Lone Tree, Loreburn, Manitou Lake, Mankota, Maple Bush, Mariposa, Marriott, Milden, Milton, Miry Creek, Monet, Montrose, Morse, Mountain View, Newcombe, Oakdale, Paynton, Perdue, Pinto Creek, Pittville, Pleasant Valley, Prairiedale, Progress, Reford, Riverside, Rosedale, Rosemount, Round Valley, Rudy, Saskatchewan Landing, Senlac, Shamrock, Snipe Lake, St. Andrews, Swift Current, Tramping Lake, Turtle River, Val Marie, Vanscoy, Victory, Waverley, Webb, Whiska Creek, Wilton, Winslow, Wise Creek and Wood River, and
(iii) in Alberta, the Cities of Calgary and Edmonton, the Counties of Athabasca, Barrhead, Beaver, Birch Hills, Brazeau, Camrose, Clear Hills, Clearwater, Flagstaff, Kneehill, Lac La Biche, Lacombe, Lac Ste. Anne, Lamont, Leduc, Minburn, Mountain View, Paintearth, Parkland, Ponoka, Red Deer, Rocky View, Smoky Lake, St. Paul, Starland, Stettler, Strathcona, Sturgeon, Thorhild, Two Hills, Vermilion River, Westlock, Wetaskiwin, Wheatland and Woodlands, Improvement District No. 13, the Municipal Districts of Acadia, Big Lakes, Bonnyville, Fairview, Greenview, Lesser Slave River, Northern Lights, Peace, Provost, Smoky River, Spirit River and Wainwright, Special Areas No. 2, 3 and 4 and the Town of Drumheller.
17. (1) The Regulations are amended by adding the following after section 7305.01:
7305.02 (1) For the purposes of subsection 80.3(4) of the Act, the following regions are prescribed regions of flood or excessive moisture:
(a) in respect of the 2008 calendar year, in Manitoba,
(i) the rural municipalities of Alonsa, Armstrong, Bifrost, Coldwell, Dauphin, Eriksdale, Ethelbert, Fisher, Gimli, Glenella, Grahamdale, Lakeview, Lawrence, McCreary, Mossey River, Mountain South, Ochre River, Rockwood, Siglunes, St. Andrews, St. Laurent, Ste. Rose and Woodlands, and
(ii) any reserve that is contiguous to a rural municipality referred to in subparagraph (i), or that is part of a series of contiguous reserves one of which is contiguous to a rural municipality referred to in subparagraph (i), of the bands designated as Dauphin River, Ebb and Flow, Fisher River, Kinonjeoshtegon First Nation, Lake Manitoba First Nation, Lake St. Martin, Little Saskatchewan, O-Chi-Chak-Ko-Sipi First Nation, Peguis, Pinaymootang First Nation, Sandy Bay and Skownan First Nation; and
(b) in respect of the 2009 calendar year, in Manitoba, the rural municipalities of Armstrong, Bifrost, Fisher and Gimli.
(2) For the purpose of this section, “band” and “reserve” have the same meaning as assigned by the Indian Act.
(2) Subsection (1) is deemed to have come into force on January 1, 2008.
PART 2MISCELLANEOUS
Payments
Multilateral Debt Relief
Marginal note:Maximum payment of $2,500,000,000
18. (1) For the purpose of Canada’s contribution to the Multilateral Debt Relief Initiative, or for making contributions towards multilateral debt relief, there may, in respect of fiscal years in the period that begins on April 1, 2009 and ends on March 31, 2054, be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, sums, not exceeding in the aggregate $200 million in each fiscal year, to international organizations in order to make debt payments on behalf of eligible countries. No more than a total of $2.5 billion may be paid out under this subsection.
Marginal note:Agreements
(2) The Minister of Finance may enter into arrangements or agreements with international organizations for the purpose of the payments referred to in subsection (1).
Payment to Nova Scotia — Offshore Petroleum Resources
Marginal note:Payment of $174,500,000
19. Before April 1, 2010, there may be paid to Nova Scotia out of the Consolidated Revenue Fund, on the requisition of the Minister of Natural Resources, $174,500,000.
R.S., c. B-7; R.S., c. 24 (1st Supp.), s. 3Bretton Woods and Related Agreements Act
20. (1) Paragraph 12(h) of Article V of Schedule I to the Bretton Woods and Related Agreements Act is replaced by the following:
(h) Pending uses specified under (f) above, the Fund may use a member’s currency held in the Special Disbursement Account for investment as it may determine, in accordance with rules and regulations adopted by the Fund by a seventy percent majority of the total voting power. The income of investment and interest received under (f)(ii) above shall be placed in the Special Disbursement Account.
(2) Section 12 of Article V of Schedule I to the Act is amended by adding the following after paragraph (j):
(k) Whenever under (c) above the Fund sells gold acquired by it after the date of the second amendment of this Agreement, an amount of the proceeds equivalent to the acquisition price of the gold shall be placed in the General Resources Account, and any excess shall be placed in the Investment Account for use pursuant to the provisions of Article XII, Section 6(f). If any gold acquired by the Fund after the date of the second amendment of this Agreement is sold after April 7, 2008 but prior to the date of entry into force of this provision, then, upon the entry into force of this provision, and notwithstanding the limit set forth in Article XII, Section 6(f)(ii), the Fund shall transfer to the Investment Account from the General Resources Account an amount equal to the proceeds of such sale less
(i) the acquisition price of the gold sold, and
(ii) any amount of such proceeds in excess of the acquisition price that may have already been transferred to the Investment Account prior to the date of entry into force of this provision.
21. (1) Paragraph 3(e) of Article XII of Schedule I to the Act is replaced by the following:
(e) Each Executive Director shall appoint an Alternate with full power to act for him when he is not present, provided that the Board of Governors may adopt rules enabling an Executive Director elected by more than a specified number of members to appoint two Alternates. Such rules, if adopted, may only be modified in the context of the regular election of Executive Directors and shall require an Executive Director appointing two Alternates to designate:
(i) the Alternate who shall act for the Executive Director when he is not present and both Alternates are present, and
(ii) the Alternate who shall exercise the powers of the Executive Director under (f) below.
When the Executive Directors appointing them are present, Alternates may participate in meetings but may not vote.
(2) Paragraph 5(a) of Article XII of Schedule I to the Act is replaced by the following:
(a) The total votes of each member shall be equal to the sum of its basic votes and its quota-based votes.
(i) The basic votes of each member shall be the number of votes that results from the equal distribution among all the members of 5.502 percent of the aggregate sum of the total voting power of all the members, provided that there shall be no fractional basic votes.
(ii) The quota-based votes of each member shall be the number of votes that results from the allocation of one vote for each part of its quota equivalent to one hundred thousand special drawing rights.
(3) Subparagraph 6(f)(iii) of Article XII of Schedule I to the Act is replaced by the following:
(iii) The Fund may use a member’s currency held in the Investment Account for investment as it may determine, in accordance with rules and regulations adopted by the Fund by a seventy percent majority of the total voting power. The rules and regulations adopted pursuant to this provision shall be consistent with (vii), (viii), and (ix) below.
(4) Subparagraph 6(f)(vi) of Article XII of Schedule I to the Act is replaced by the following:
(vi) The Investment Account shall be terminated in the event of liquidation of the Fund and may be terminated, or the amount of the investment may be reduced, prior to liquidation of the Fund by a seventy percent majority of the total voting power.
Marginal note:1991, c. 21, s. 5
22. Section 2 of Schedule L of Schedule I to the Act is replaced by the following:
2. The number of votes allotted to the member shall not be cast in any organ of the Fund. They shall not be included in the calculation of the total voting power, except for purposes of:
(a) the acceptance of a proposed amendment pertaining exclusively to the Special Drawing Rights Department and
(b) the calculation of basic votes pursuant to Article XII, Section 5(a)(i).
1991, c. 11Broadcasting Act
Marginal note:1994, c. 18, s. 18
23. Paragraph 46.1(3)(a) of the Broadcasting Act is replaced by the following:
(a) $220,000,000; or
2009, c. 2Budget Implementation Act, 2009
24. (1) Section 309 of the Budget Implementation Act, 2009 is replaced by the following:
Marginal note:Maximum payment of $1,000,000,000
309. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, in accordance with terms and conditions approved by the Treasury Board, a sum not exceeding one billion dollars for the construction, renovation, refurbishment or repair of buildings and facilities at post-secondary institutions.
Marginal note:Coming into force
(2) Subsection (1) is deemed to have come into force on March 12, 2009.
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