Legislative proposals relating to the Greenhouse Gas Pollution Pricing Act
Jan 15, 2018
On January 15, 2018, the Honourable Catherine McKenna, Minister of Environment and Climate Change and the Honourable William Francis Morneau, Minister of Finance released legislative proposal, draft regulations, and explanatory notes pertaining to the Greenhouse Gas Pollution Pricing Act.
The tax will be based on the carbon emissions from combusting the fuel or waste and is set to start at $10 per tonne of greenhouse gas emissions on January 1, 2019, and then rise by $10 per tonne each year until it hits $50 per tonne in 2023.
The proposed law also includes an output-based pricing system for large carbon emitters where instead of paying the tax they will pay for carbon emissions that are above national averages in their industry.
Directors and officers of corporations can also face personal liability if they assent to or participate in a corporation committing an offence.
Review the proposals on the Department of Finance Canada's website and an article on Norton Rose Fulbright's website.
