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An Act to implement certain provisions of the budget tabled in Parliament on March 23, 2004 (S.C. 2004, c. 22)

Assented to 2004-05-14

27. The Act is amended by adding the following after section 82:

Marginal note:Succession of employers

82.1 If, in a year after 2003, one employer immediately succeeds another as the employer of an employee as a result of the formation or dissolution of a corporation or the acquisition — with the agreement of the former employer or by operation of law — of all or part of an undertaking or business of the former employer, the successor employer may, for the application of section 82, take into account the amounts deducted, remitted or paid under this Act by the former employer in respect of the year in relation to the employment of the employee as if they had been deducted, remitted or paid by the successor employer. If the employer takes those amounts into account with respect to the employer's premium, the employer shall also take them into account with respect to the employee's premium.

PART 6

Marginal note:1993, c. 14; 2001, c. 22, s. 2

AMENDMENT TO THE FARM CREDIT CANADA ACT

Marginal note:2003, c. 15, s. 42

28. Subsection 11(1) of the Farm Credit Canada Act is replaced by the following:

Marginal note:Capital payments

  • 11. (1) At the request of the Corporation, the Minister of Finance may, with the approval of the Governor in Council, pay to the Corporation, out of the Consolidated Revenue Fund, amounts not exceeding in the aggregate one billion, two hundred and fifty million dollars, or such greater aggregate amount as may be authorized from time to time under an appropriation Act.

PART 7

GOODS AND SERVICES TAX AND HARMONIZED SALES TAX REBATE FOR MUNICIPALITIES

Marginal note:R.S., c. E15

Excise Tax Act

  • 29. (1) Subsection 123(1) of the Excise Tax Act is amended by adding the following in alphabetical order:

    “designated municipal property”

    « bien municipal désigné »

    “designated municipal property” means property

    • (a) that is property of a person who is at any time designated to be a municipality for the purposes of section 259,

    • (b) that the person intended at that time to consume, use or supply in the course of activities specified in the designation and otherwise than exclusively in the course of activities that are not activities specified in the designation, and

    • (c) in respect of which, or in respect of an improvement to which, an amount included in “the total tax charged in respect of the property or service” under paragraph (a) of the definition “noncreditable tax charged” in subsection 259(1) is

      • (i) an amount of tax in respect of a supply made to, or the importation or bringing into a participating province of the property or an improvement to it by, the person at that time,

      • (ii) an amount deemed to have been paid or collected at that time by the person,

      • (iii) an amount required to be added under subsection 129(7) in determining the person's net tax as a result of a branch or division of the person becoming a small supplier division at that time, or

      • (iv) an amount required to be added under paragraph 171(4)(b) in determining the person's net tax as a result of the person ceasing at that time to be a registrant;

  • (2) Subsection (1) is deemed to have come into force on February 1, 2004.