Notice of Ways and Means Motion to amend the Excise Act, 2001

Notice of Ways and Means Motion to amend the Excise Act, 2001 (PDF, 97 Kb)

That it is expedient to amend the Excise Act, 2001 as follows:

1 (1) Section 123.1 of the Excise Act, 2001 is amended by adding the following after subsection (2):
- Marginal note:Adjustment — 2023
  (2.1) In respect of the inflationary adjusted year that is 2023, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.
(2) Subsection (1) comes into force or is deemed to have come into force on April 1, 2023.

2 (1) Section 135.1 of the Act is amended by adding the following after subsection (2):
- Marginal note:Adjustment — 2023
  (2.1) In respect of the inflationary adjusted year that is 2023, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.
(2) Subsection (1) comes into force or is deemed to have come into force on April 1, 2023.

3 (1) Subsection 159(1.01) of the Act is replaced by the following:
- Marginal note:Fiscal months — vaping product licensee
  (1.01) For the purposes of this Act, the fiscal months of a vaping product licensee are calendar months.
(2) Subsection (1) comes into force or is deemed to have come into force on April 1, 2023.

4 (1) Subsection 159.1(1) of the Act is replaced by the following:
Marginal note:Reporting period — general
- 159.1 (1) Subject to this section, the reporting period of a person is a fiscal month.
- Marginal note:Reporting period — cannabis licensee
  (1.1) The reporting period of a cannabis licensee is a calendar quarter, being a period of three months beginning on the first day of January, April, July or October.
(2) Subsection (1) comes into force or is deemed to have come into force on April 1, 2023.

5 (1) Section 159.2 of the Act is repealed.
(2) Subsection (1) comes into force or is deemed to have come into force on April 1, 2023.