168. Subsection 7(1) of the Act is replaced by the following:

Marginal note:Canada Disability Savings Grant for 2008

169. For the purposes of calculating the amount of a Canada Disability Savings Grant that may be paid for 2008 under section 6 of the Canada Disability Savings Act, subparagraphs 6(2)(a)(i) and (ii) and subsection 6(6) of that Act are to be read as they did on December 31, 2008.

Marginal note:Canada Disability Savings Bond for 2008

170. For the purposes of calculating the amount of a Canada Disability Savings Bond that may be paid for 2008 under section 7 of the Canada Disability Savings Act, subparagraphs 7(2)(a)(i) and (ii) and (b)(i) and (ii), the descriptions of B and C in subsection 7(4) and subsection 7(8) of that Act are to be read as they did on December 31, 2008.

Marginal note:January 1, 2011

171. This Part comes into force, or is deemed to have come into force, on January 1, 2011.

172. Section 11.1 of the Customs Act is amended by adding the following after subsection (3):

Marginal note:R.S., c. 11 (3rd Supp.), ss. 5(1), (4) and (6)(F); 1995, c. 17, ss. 47(1) and (2); 1999, c. 11, s. 3(3), c. 31, s. 235; 2005, c. 7, ss. 2(1) to (6)

• 173. (1) Subsections 6(1) to (6) of the Federal-Provincial Fiscal Arrangements Act are replaced by the following:

  Marginal note:Computation of payments

  • 6. (1) Subject to subsections (8) to (10), the fiscal stabilization payment that may be paid to a province for a fiscal year is the amount determined by the formula

    (0.95 × A) – B + (C × D) – (E × F)

    where

    A 

    is the non-natural resource revenue of the province for the preceding fiscal year;

    B 

    is the non-natural resource revenue of the province for the fiscal year;

    C 

    is equal to

    • (a) 95%, if the natural resource revenue of the province for the fiscal year is greater than the natural resource revenue of the province for the preceding fiscal year,

    • (b) 50%, if the natural resource revenue of the province for the fiscal year is less than one half of the natural resource revenue of the province for the preceding fiscal year, or

    • (c) zero, in any other case;

    D 

    is the natural resource revenue of the province for the preceding fiscal year;

    E 

    is equal to

    • (a) one, if the natural resource revenue of the province for the fiscal year is either greater than the natural resource revenue of the province for the preceding fiscal year or less than one half of the natural resource revenue of the province for the preceding fiscal year, or

    • (b) zero, in any other case; and

    F 

    is the natural resource revenue of the province for the fiscal year.

  • Marginal note:Adjustment

    (2) For the purposes of determining the amount under subsection (1), the Minister may adjust, in the prescribed manner, the natural resource revenue and the non-natural resource revenue of a province for the fiscal year to offset the amount, as determined by the Minister, of any change in either of those revenues for the fiscal year resulting from changes made by the province in the rates or structure of provincial taxes or of other means of raising the revenue of the province from the rates or structures in effect in the preceding fiscal year.

  • Marginal note:Interpretation

    (2.1) If a province has entered into a tax collection agreement respecting personal income tax or corporation income tax, a change to the Income Tax Act affecting the province’s Common Tax Base as defined in Chapter 2 or 3, as the case may be, of the tax collection agreement is deemed to be a change in the rates or in the structures of provincial taxes for the purposes of subsection (2).

  • Marginal note:Natural resource revenue

    (3) For the purposes of determining the amount under subsection (1), the natural resource revenue of a province for a fiscal year is the aggregate of the total revenue, as determined by the Minister, derived by the province for the fiscal year from the revenue sources described in paragraphs (l) to (w) of the definition “revenue source” in subsection 3.9(1) and from the revenue sources described in paragraph (z.5) of that definition that relate to natural resources.

  • Marginal note:Non-natural resource revenue

    (4) For the purposes of determining the amount under subsection (1), the non-natural resource revenue of a province for a fiscal year is equal to

    • (a) the aggregate of

      • (i) the total revenue, as determined by the Minister, derived by the province for the fiscal year from the revenue sources described in paragraphs (a) to (k), (x), (y) and (z.1) to (z.3) of the definition “revenue source” in subsection 3.9(1),

      • (ii) the total revenue, as determined by the Minister, derived by the province for the fiscal year from the revenue sources described in paragraph (z.5) of that definition that do not relate to natural resources,

      • (iii) the fiscal equalization payment made to the province for the fiscal year under Part I, and

      • (iv) the additional cash payment made to the province for the fiscal year under section 24.703,

      minus

    • (b) despite subsection (5), the aggregate of

      • (i) the total equalized tax transfer applicable to the province as if, for that fiscal year, the transfer were determined in the manner described in subsection 24.7(1.22), and

      • (ii) the value of the additional tax abatement units as determined in accordance with subsection 27(2).

  • Marginal note:Non-natural resource revenue

    (5) For the purposes of determining the non-natural resource revenue of a province for a fiscal year,

    • (a) subsection 3.9(2) applies, with any modifications that the circumstances require, in determining the revenue derived by the province for the fiscal year from personal income taxes, described in paragraph (a) of the definition “revenue source” in subsection 3.9(1), except that no deduction may be made in respect of the tax abatement units referred to in subsection 27(2);

    • (b) the province’s revenue for the fiscal year derived from personal income taxes, described in paragraph (a) of the definition “revenue source” in subsection 3.9(1), is deemed to be

      • (i) the total amount, determined in the prescribed manner, of the provincial personal income taxes assessed or reassessed, not later than 24 months after the end of the fiscal year, in respect of the taxation year ending in the fiscal year,

      minus

      • (ii) the total amount, determined in the prescribed manner, of the tax credits and rebates claimed by taxpayers in the province against provincial personal income taxes for that taxation year that have been deducted from those assessed or reassessed provincial personal income taxes; and

    • (c) the province’s revenue for the fiscal year derived from that part of the revenue source described in paragraph (b) of the definition “revenue source” in subsection 3.9(1) that consists of corporation income taxes is deemed to be

      • (i) the total amount, determined in the prescribed manner, of the provincial corporation income taxes assessed or reassessed, not later than 24 months after the end of the fiscal year, in respect of the taxation year of corporations ending in the calendar year that ends in the fiscal year,

      minus

      • (ii) the total amount, determined in the prescribed manner, of the tax credits and rebates claimed by taxpayers in the province against provincial corporation income taxes for that taxation year that have been deducted from those assessed or reassessed provincial corporation income taxes.

  • Marginal note:Fiscal year 2011–2012

    (6) Despite subsection (4), for the purposes of determining the amount under subsection (1) for the fiscal year that begins on April 1, 2011, the payment under section 3.12 and the additional cash payment under section 24.703 are not included in the province’s non-natural resource revenue.

• Marginal note:2005, c. 7, s. 2(7)

  (2) Subsection 6(11) of the Act is repealed.