Bill Detail

Part 1 implements certain measures in respect of the Income Tax Act and the Income Tax Regulations by

It also amends the Excise Tax Act, in relation to certain measures in respect of the Income Tax Act, and the Income Tax Conventions Implementation Act, 1996, which suspends the operation of the Canada-Russia Income Tax Agreement. Finally, it amends the Air Travellers Security Charge Act, the Excise Act, 2001 and the Select Luxury Items Tax Act in relation to certain measures in respect of the Income Tax Act.

Part 2 amends the Global Minimum Tax Act to, among other things, implement the UTPR that subjects the Canadian constituent entities of certain MNE groups to top-up tax in respect of the low-taxed profits of constituent entities of those MNE groups not already subject to an IIR or qualified domestic minimum top-up tax, implement certain aspects of the administrative guidance in respect of the GloBE Model Rules approved by the Inclusive Framework and published by the OECD and implement a number of technical amendments to correct mistakes or inconsistencies and to better align that Act with its intended policy objectives. This Part also makes amendments to the Access to Information Act, the Income Tax Conventions Interpretation Act and the Tax Court of Canada Act.

Part 3 amends the Excise Tax Act, the Excise Act, the Excise Act, 2001 and other related texts to implement various measures.

Division 1 of Part 3 implements certain measures in respect of the Excise Tax Act and related texts by

Division 2 of Part 3 implements certain measures in respect of the Excise Act, the Excise Act, 2001 and other related texts by

making technical corrections in respect of the computation of the additional excise duty on cigars and the computation of negative amounts generated by statutory formulas;

clarifying the tax treatment of certain cannabis and vaping products that are unaccounted for or that are taken for use;

implementing a new limit in respect of packaged raw leaf tobacco for importation for personal use and making consequential amendments to ensure the proper enforcement of the new limit;

allowing the Canada Revenue Agency to consider and grant relief to brewers in certain circumstances;

extending the maximum validity period for certain licences from two years to three years; and

authorizing the Canada Revenue Agency to share information with international tax authorities with which Canada has an information-sharing agreement, in a manner consistent with the Income Tax Act.

Part 4 enacts an Act and amends several Acts in order to implement various measures.

Division 1 of Part 4 amends the Trust and Loan Companies Act, the Bank Act and the Insurance Companies Act to prohibit financial institutions from issuing documents in bearer form and provide for the replacement of documents that are currently in bearer form.

Division 2 of Part 4 amends the Trust and Loan Companies Act, the Bank Act and the Insurance Companies Act to provide that no action lies against His Majesty in right of Canada and federal government officials for any acts or omissions made in good faith under those Acts.

Division 3 of Part 4 amends the Bank Act to require an institution to offer or sell deposit products in a non-discriminatory manner in certain circumstances.

Division 4 of Part 4 amends the Financial Administration Act to provide the Governor in Council with authority to make regulations with respect to the conditions under which contracts may be entered into by His Majesty or a Crown corporation. The Division also amends the Department of Public Works and Government Services Act to provide the Governor in Council with authority to make regulations respecting the complaints that may be reviewed by the Procurement Ombudsman and the persons who may file a complaint. The Division also makes a related amendment to the National Capital Act.

Division 5 of Part 4 increases the maximum amounts for accessing the Tax Court of Canada’s informal procedure for appeals under the Income Tax Act and Part IX of the Excise Tax Act.

Division 6 of Part 4 amends Schedule II to the Access to Information Act to prohibit the disclosure of confidential information obtained under the Retail Payment Activities Act or prepared from information obtained under that Act.

Division 7 of Part 4 amends the National Housing Act to increase the total of Canada Mortgage and Housing Corporation outstanding guarantees that are in force. The Division also amends the Protection of Residential Mortgage or Hypothecary Insurance Act to increase the limit for loans that are insured under that Act.

Division 8 of Part 4 amends the Bankruptcy and Insolvency Act to provide the Superintendent of Bankruptcy with the power to request various orders from the court if an unlicensed person acts or represents itself as a licensed trustee, and if a person solicits from another person insolvency filings under that Act or makes representations that are false or misleading in a material respect in relation to bankruptcy and insolvency. The Division also increases the maximum fines for certain offences under that Act.

Division 9 of Part 4 amends the Canada Labour Code to, among other things, prohibit non-compete clauses and other employment-related restrictions, except in certain circumstances.

Division 10 of Part 4 amends the Canadian Human Rights Act to eliminate the position of Deputy Chief Commissioner of the Canadian Human Rights Commission and to provide that the person holding that office is deemed to have been appointed as Chief Commissioner.

Division 11 of Part 4 amends the International Development Research Centre Act to, among other things, reduce the number of members of the Board of Governors of the International Development Research Centre from 14 to 12.

Division 12 of Part 4 amends the Tobacco and Vaping Products Act to provide that a review of the provisions and operation of that Act must be undertaken within five years after the report on the previous review has been tabled in both Houses of Parliament rather than every two years and to specify the period within which the report on the review must be tabled.

Division 13 of Part 4 amends the Pest Control Products Act to replace the mandatory re-evaluation of registered pest control products with a requirement for the Minister of Health to initiate a re-evaluation if, after carrying out an assessment, that Minister has reasonable grounds to believe that the health or environmental risks of a product have increased significantly.

Division 14 of Part 4 amends the Territorial Lands Act to, among other things,

Division 15 of Part 4 amends the Red Tape Reduction Act to, among other things, ensure that the provisions of the Official Languages Act, or the provisions of an instrument made under that Act, cannot be the subject of an exemption under Part 2 of the Red Tape Reduction Act.

Division 16 of Part 4 contains measures relating to procurement, production and investment in respect of national defence and national security.

Subdivision A of Division 16 enacts the Defence Investment Agency Act. That Act establishes the Defence Investment Agency, whose mandate is to assist the Minister who presides over that Agency in the exercise of the Minister’s powers and performance of the Minister’s duties and functions relating to production, procurement and investment in respect of national defence or national security. That Act also provides for certain other powers, duties and functions of that Minister. Subdivision A also makes related and consequential amendments to other Acts.

Subdivision B of Division 16 amends the Defence Production Act to, among other things,

Division 17 of Part 4 amends the Canada Transportation Act to, among other things,