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Ottawa, March 31, 2004
2004-027
Legislation Introduced for 2004 Budget Initiatives
Related document:
Minister of Finance Ralph Goodale today introduced legislation to
implement certain provisions of the budget tabled in the House of Commons on
March 23, 2004.
The legislation includes measures to:
- Implement the 100-per-cent rebate to municipalities of the goods and
services tax (GST) and the federal portion of the harmonized sales tax (HST),
which will provide an estimated $7 billion in GST/HST relief over
the next 10 years.
- Renew the federal-provincial equalization program for five years, from
2004–05 to 2008–09. Provinces that receive equalization are expected
to get more than $50 billion in payments over this period.
- Authorize $400 million in payments to the provinces and territories
over three years to support a national immunization strategy and to
relieve immediate stresses on provincial and territorial public health
systems.
- Increase funding to the provinces and territories under the Canada
Social Transfer by $150 million over two years to accelerate the
implementation of existing federal-provincial-territorial agreements on
early learning and child care.
- Provide an additional $200 million in funding for Sustainable
Development Technology Canada, an arm’s-length, non-profit corporation
that assists in the development of new environmental technologies.
- Authorize the payment of $100 million to Canada Health Infoway to
support investments by provinces and territories in software and
hardware needed to implement a high-quality, real-time public health
surveillance system.
- Allow for the reinstatement of Canada Pension Plan (CPP) disability
benefits in cases where benefits cease because recipients return to work
but subsequently stop working because of a recurrence in their
disability during the next two years.
- Clarify the rules governing refunds of contributions to the CPP.
- Remove impediments in the CPP and employment insurance (EI) to
business restructurings by enabling employers who acquire new employees
as part of such restructurings to count CPP contributions and EI
premiums paid by their previous employers when calculating their own
required contributions and premiums.
- Provide the Governor in Council with the authority to set the EI
premium rate for 2005, should a new legislated mechanism not yet be in
place.
The legislation also includes amendments to the Income Tax Act and other
acts relating to the limitation period for tax debts, following on the
Notice of Ways and Means Motion tabled on March 29, 2004.
Explanatory notes relating to the 100-per-cent GST/HST rebate for
municipalities are attached.
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For further information:
Andrée Houde
Public Affairs and Operations Division
(613) 996-8080 |
Pat Breton
Press Secretary
Office of the Minister of Finance
(613) 996-7861 |
If you would like to receive automatic e-mail notification of all news
releases, please visit the Department of Finance Canada Web site at
http://www.fin.gc.ca/scripts/register_e.asp.
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