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Budget 2018: Sales and Excise Tax Measuresin Canadian Government News and Updates
GST/HST and Investment Limited Partnerships: Budget 2018 proposes measures so that the GST/HST applies to management and administrative services rendered by the general partner on or after September 8, 2017, and not to management and administrative services rendered by the general partner before September 8, 2017 unless the general partner charged GST/HST in respect of such services before that date. Budget 2018 also proposes that the GST/HST be generally payable on the fair market value of management and administrative services in the period in which these services are rendered.
Budget 2018 proposes to allow an investment limited partnership to make an election to advance the application of the special HST rules as of January 1, 2018.
Tobacco Taxation: Budget 2018 proposes to advance the existing inflationary adjustments for tobacco excise duty rates to occur on an annual basis rather than every five years. Budget 2018 also proposes to increase the excise duty rates by an additional $1 per carton of 200 cigarettes, along with the corresponding increases to the excise duty rates on other tobacco products.
Cannabis Taxation: Budget 2018 proposes a new federal excise duty framework for cannabis products to be introduced as part of the Excise Act, 2001. The duty will generally apply to all products available for legal purchase which at the outset of legalization will include fresh and dried cannabis, cannabis oils and seeds and seedlings for home cultivation.