![]() |
||||||||||||||||||
![]() |
|
|||||||||||||||||
Excise Taxes and Special Levies NoticesET/SL 55 December 7, 2005 Notice to all licensed jewellery manufacturers and wholesalers under the Excise Tax Act, and to importersChanges to the excise tax on clocks and watchesOn November 25, 2005, Bill C-259, an Act to amend the Excise Tax Act (elimination of the excise tax on jewellery), received Royal Assent and became law. Bill C-259 amended the wording of section 5 of Schedule I to the Excise Tax Act, and had the following immediate impacts on the administration of the excise tax:
The existing provisions of the Excise Tax Act contained in sections 5.1* and 5.2* of Schedule I remain in force, along with the previously announced rate reduction schedules (applying to articles made of semi-precious stones, jewellery, precious and semi-precious stones and goldsmiths' and silversmiths' products). The schedules and the rates are set out below:
Finally, as set out in the existing legislation, the excise tax on clocks, articles made of semi-precious stones, jewellery, precious and semi-precious stones and goldsmiths' and silversmiths' products will be eliminated on March 1, 2009. In this regard, all licensed manufacturers and wholesalers of jewellery will be provided with further information regarding the eventual cancellation of their excise tax licences early in 2009. * To see a detailed listing of products covered under sections 5.1 and 5.2 of Schedule I of the Excise Tax Act, you can visit the Web site for Bill C-43, which amended the Act in June of this year: For further information, please consult the Canada Revenue Agency website at http://www.cra-arc.gc.ca/menu-e.html, or call the appropriate Excise Tax Information Line. National Line: : 1-866-330-3304 (Toll-Free Service in English) or Quebec Region Excise Tax Line: 1-888-609-0073 (Toll-Free Service in French); Northern Ontario Region (Serving Ottawa and Northern Ontario areas) |
||||||||||||||||||
|