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News Release 2001-041 -Proposed Amendments to the Excise Tax Act
1. (1) The portion of section 2 of Part I of Schedule VI to the Excise Tax Act before paragraph (a) is replaced by the following:
2.
A supply of any of the following drugs or substances:(2) Section 2 of Part I of Schedule VI to the Act is amended by striking out the word "and" at the end of paragraph (e), by adding the word "and" at the end of paragraph (f) and by replacing the portion of that section after paragraph (f) by the following:
(g) plasma expander,
but not including a supply of a drug or substance when it is labelled or supplied for agricultural or veterinary use only.
(3) Subsections (1) and (2) apply to supplies for which consideration becomes due after Announcement Date or is paid after that day without having become due.
2. (1) Part IV of Schedule VI to the Act is amended by adding the following after section 3:
3.1
A supply of grain or seeds, or of mature stalks having no leaves, flowers, seeds or branches, of hemp plants of the genera Cannabis, if(a) in the case of grain or seeds, they are not further processed than sterilized or treated for seeding purposes and are not packaged, prepared or sold for use as feed for wild birds or as pet food;
(b) in the case of viable grain or seeds, they are included in the definition "industrial hemp" in section 1 of the Industrial Hemp Regulations made under the Controlled Drugs and Substances Act; and
(c) the supply is made in accordance with that Act, if applicable.
(2) Subsection (1) applies to supplies for which consideration becomes due after Announcement Date or is paid after that day without having become due.
3. (1) Section 6 of Schedule VII to the Act is replaced by the following:
6.
Goods the supply of which is included in any of Parts I to IV and VIII of Schedule VI, other than section 3.1 of Part IV of the Schedule.(2) Subsection (1) applies to goods imported after Announcement Date.
4. (1) Schedule VII to the Act is amended by adding the following after section 11:
12.
Imported grain or seeds, or imported mature stalks having no leaves, flowers, seeds or branches, of hemp plants of the genera Cannabis, if(a) in the case of grain or seeds, they are not further processed than sterilized or treated for seeding purposes and are not packaged, prepared or sold for use as feed for wild birds or as pet food;
(b) in the case of viable grain or seeds, they are included in the definition "industrial hemp" in section 1 of the Industrial Hemp Regulations made under the Controlled Drugs and Substances Act; and
(c) the importation is in accordance with that Act, if applicable.
(2) Subsection (1) applies to grain or seeds and stalks imported after Announcement Date.
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| Last Updated: 2002-10-16 |
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