28 June 2019
The Canadian Government has announced that the Budget Implementation Act, 2019, No. 1 (Bill C-97) received Royal Assent on 21 June 2019. The Act implements a number of tax measures proposed in the Federal Budget 2019 (previous coverage). As provided in the included summary, part 1 of the legislation implements certain income tax and related measures by:
Part 2 of the legislation implements certain goods and services tax/harmonized sales tax (GST/HST) measures:
And lastly, part 3 of the legislation implements certain excise measures by changing the federal excise duty rates on cannabis products that are edible cannabis, cannabis extracts (including cannabis oils) and cannabis topicals to CAD 0.0025 per milligram of total tetrahydrocannabinol contained in the cannabis product. Various other measures are provided for as well.
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