On June 21, 2019, Bill C-82, Multilateral Instrument in Respect of Tax Conventions Act, and Bill C-97, Budget Implementation Act, 2019, No. 1, received Royal Assent.
C-97 enacted the following income tax measures (measures are from Budget 2019 unless otherwise noted):
- zero emissions vehicles;
- donations of cultural property;
- Canadian development expenses and Canadian oil and gas property expenses (from 2018 Fall Economic Statement);
- kinship care providers;
- tax support for Canadian journalism;
- medical expense tax credit and cannabis;
- Canada Training Credit;
- small business deduction—farming and fishing;
- extending mineral exploration tax credit (from 2018 Fall Economic Statement);
- SR&ED for CCPCs;
- carrying on business in a TFSA;
- home buyers plan;
- repayments of salary overpayments (January 15, 2019);
- accelerated investment incentive for CCA (2018 Fall Economic Statement); and
- Class 43.1/43.2—electric vehicle charging stations and batteries (Budget 2016).
With respect to GST/HST and excise measures, C-97 also enacted the Budget 2019 measures with respect to certain healthcare services, input tax credits for zero emissions vehicles, and excise duties on cannabis.
Bill C-82 enacts the Multilateral Instrument, which overrides Canada's bilateral tax treaties with other jurisdictions that have also agreed to implement the multilateral instrument. Canada must now notify the OECD that it has approved the MLI (if it hasn't done so already), and it will enter into force shortly thereafter. The Minister must also publish a notice in the Canada Gazette within 60 days after the MLI comes into force.