Today Bill C-45 and Bill C-74 received Royal Assent. Bill C-45, Cannabis Act, legalizes and regulates the sale of cannabis nation-wide. Bill C-74, Budget Implementation Act, 2018, No. 1, implemented several tax measures, including:
- changes to the tax on split income rules;
- the passive income changes for private corporations;
- other income tax and GST/HST measures announced in Budget 2018;
- introducing the excise tax on cannabis (plus related GST/HST amendments); and
- the Greenhouse Gas Pollution Pricing Act.