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Ottawa, March 9, 2004 Minister of Finance Tables Notice of Ways and Means Motion in Respect of the 100-Per-Cent GST Rebate for MunicipalitiesRelated document: Minister of Finance Ralph Goodale today tabled in the House of Commons a Notice of Ways and Means Motion proposing amendments to the Excise Tax Act to implement the 100-per-cent rebate of the goods and services tax for municipalities. The full rebate also applies to the federal portion of the harmonized sales tax. "Municipalities—large and small—need stable, reliable and predictable funding to deliver a better quality of life for all Canadians," said Minister Goodale. "As announced in the Speech from the Throne on February 2, 2004, the full rebate will provide municipalities with an additional benefit of roughly $7 billion over the next 10 years, including $580 million in the first year alone." The proposed amendments announced today provide more details on the increased rebate. They also include measures to facilitate an equitable transition to the full rebate, to protect the integrity of the tax system and to enhance transparency. In particular, these measures ensure that the benefit of the increased rebate is limited to tax incurred by municipalities on or after the February 1, 2004, implementation date announced by the Prime Minister on February 3, 2004. A schedule to the Notice of Ways and Means Motion containing further information is attached. References in the schedule to "Announcement Date" should be read as references to today’s date. A more general backgrounder is attached to the Department of Finance Canada February 3, 2004, press release, which is available on the Department’s Web site at http://www.fin.gc.ca/news04/04-007e.html. ___________________
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