Excise Act

Marginal note:Definition of inflationary adjusted year

• 170.2 (1) In this section, inflationary adjusted year means 2018 and every year after that year.

• Marginal note:Annual adjustments

  (2) Each rate of duty set out in Part II of the schedule applicable in respect of a hectolitre of beer or malt liquor is to be adjusted on April 1 of an inflationary adjusted year so that the rate is equal to the greater of

  • (a) the rate determined by the formula

    A × B

    where

    A

    is the rate of duty applicable to the hectolitre on March 31 of the inflationary adjusted year, and

    B

    is the amount, rounded to the nearest one-thousandth, or, if the amount is equidistant from two consecutive one-thousandths, rounded to the higher one-thousandth, determined by the formula

    C/D

    where

    C

    is the Consumer Price Index for the 12-month period ending on September 30 of the particular year preceding the inflationary adjusted year, and

    D

    is the Consumer Price Index for the 12-month period ending on September 30 of the year preceding the particular year, and

  • (b) the rate of duty referred to in the description of A in paragraph (a).

• Marginal note:Adjustment — 2023

  (2.1) In respect of the inflationary adjusted year that is 2023, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.

• Marginal note:Adjustment — 2024

  (2.2) In respect of the inflationary adjusted year that is 2024, the description of B in paragraph (2)(a) is deemed to be equal to 1.02.

• Marginal note:Adjustment — 2025

  (2.3) In respect of the inflationary adjusted year that is 2025, 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.

• Marginal note:Rounding

  (3) The adjusted rate determined under subsection (2) is to be rounded

  • (a) in the case of the rates set out in sections 1 and 2 of Part II of the schedule, to the nearest one-hundredth or, if the adjusted rate is equidistant from two consecutive one-hundredths, to the higher one-hundredth; and

  • (b) in the case of the rate set out in section 3 of Part II of the schedule, to the nearest one-thousandth or, if the adjusted rate is equidistant from two consecutive one-thousandths, to the higher one-thousandth.

• Marginal note:Consumer Price Index

  (4) In this section, the Consumer Price Index for any 12-month period is the result arrived at by

  • (a) aggregating the Consumer Price Index for Canada, as published by Statistics Canada under the authority of the Statistics Act, for each month in that period;

  • (b) dividing the aggregate obtained under paragraph (a) by 12; and

  • (c) rounding the result obtained under paragraph (b) to the nearest one-thousandth or, if the result obtained is equidistant from two consecutive one-thousandths, to the higher one-thousandth.