Budget Implementation Act, 2006

Here is a summarized version of the provided legislative document:

Part 1: Income Tax Amendments

• Sections 1-8 make various amendments to the Income Tax Act, including changes to tax rates and brackets.
• Section 9 repeals a provision related to taxation of trusts.

Part 2: Excise Tax Act Amendment

• Section 10 amends the Excise Tax Act by adding new provisions related to excise taxes on certain goods.

Part 3: Income Tax Act Amendment (Conditional)

• Section 11 introduces a conditional amendment to the Income Tax Act, which will come into effect only if certain conditions are met.

Part 4: Universal Child Care Benefit

• The Universal Child Care Benefit Act is enacted as part of this legislation.
• Sections 12-15 make amendments to various Acts related to child care benefits, including changes to tax credits and exemptions.

Part 5: Consequential Amendments

• Sections 16-18 make consequential amendments to the Children's Special Allowances Act, Employment Insurance Act, and Income Tax Act.

Part 6: Coming into Force

• Section 19 states that Part 1 (Income Tax Amendments) will come into force on January 1, 2006.
• Section 20 repeals a provision related to taxation of trusts.

Part 7: Federal-Provincial Fiscal Arrangements Act Amendment

• Sections 21-25 make amendments to the Federal-Provincial Fiscal Arrangements Act, including changes to tax rates and brackets.