Legislative Proposals Relating to the Excise Act and the Excise Act, 2001

Excise Act

1 (1) Section 170.2 of the Excise Act is amended by adding the following after subsection (2.3):
- Marginal note:Adjustment — 2026
  (2.4) In respect of the inflationary adjusted year that is 2026, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.
- Marginal note:Adjustment — 2027
  (2.5) In respect of the inflationary adjusted year that is 2027, if the amount determined for B in paragraph (2)(a) without reference to this subsection is greater than 1.02, the description of B in that paragraph is deemed to be equal to 1.02.
(2) Subsection (1) is deemed to have come into force on April 1, 2026.

2 (1) Paragraphs 1(a) to (c) of Part II.1 of the schedule to the Act are amended by replacing "10%" with "5%".

(2) Paragraphs 1(a) to (c) of Part II.1 of the schedule to the Act, as amended by subsection (1), are amended by replacing "5%" with "10%".

(3) Subsection (1) is deemed to have come into force on April 1, 2026.

(4) Subsection (2) comes into force on April 1, 2028.

3 (1) Paragraphs 2(a) to (c) of Part II.1 of the schedule to the Act are amended by replacing "20%" with "10%".

(2) Paragraphs 2(a) to (c) of Part II.1 of the schedule to the Act, as amended by subsection (1), are amended by replacing "10%" with "20%".

(3) Subsection (1) is deemed to have come into force on April 1, 2026.

(4) Subsection (2) comes into force on April 1, 2028.

4 (1) Paragraphs 3(a) to (c) of Part II.1 of the schedule to the Act are amended by replacing "40%" with "20%".

(2) Paragraphs 3(a) to (c) of Part II.1 of the schedule to the Act, as amended by subsection (1), are amended by replacing "20%" with "40%".

(3) Subsection (1) is deemed to have come into force on April 1, 2026.

(4) Subsection (2) comes into force on April 1, 2028.

5 (1) Section 123.1 of the Excise Act, 2001 is amended by adding the following after subsection (2.3):
- Marginal note:Adjustment — 2026
  (2.4) In respect of the inflationary adjusted year that is 2026, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.
- Marginal note:Adjustment — 2027
  (2.5) In respect of the inflationary adjusted year that is 2027, if the amount determined for B in paragraph (2)(a) without reference to this subsection is greater than 1.02, the description of B in that paragraph is deemed to be equal to 1.02.
(2) Subsection (1) is deemed to have come into force on April 1, 2026.

6 (1) Section 135.1 of the Act is amended by adding the following after subsection (2.3):
- Marginal note:Adjustment — 2026
  (2.4) In respect of the inflationary adjusted year that is 2026, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.
- Marginal note:Adjustment — 2027
  (2.5) In respect of the inflationary adjusted year that is 2027, if the amount determined for B in paragraph (2)(a) without reference to this subsection is greater than 1.02, the description of B in that paragraph is deemed to be equal to 1.02.
(2) Subsection (1) is deemed to have come into force on April 1, 2026.