The Canada Revenue Agency has issued notice SWLN47 to provide exporters of softwood lumber products under the Softwood Lumber Products Export Charge Act, 2006 with information on a surge charge for the month of April 2015 for the region of Alberta.
Pursuant to the surge mechanism described in subsection 14(1) of the Softwood Lumber Products Export Charge Act, 2006, the charge that applies to the export of softwood lumber products from a region that is not governed by an export allocation (an Option A region) is increased by 50% when exports of softwood lumber products from this region during a particular month exceed the applicable monthly trigger volume by more than 1%.
A surge charge is payable for the month of April 2015 for the region of Alberta. Exporters who have shipped softwood lumber products with an Alberta region of origin during April 2015 are required to complete and file Form B279, Softwood Lumber Products Surge Charge Return. Pursuant to section 26 of the Act, exporters are required to report and remit the surge charge owing by the end of the month following the month in which it became payable. In this instance, form B279 must be filed, and the surge charge remitted, by June 30, 2015. Interest will apply as of that date.
Further information may be reviewed on the Canada Revenue Agency webpage.
Questions about this regulatory update may be directed to Livingston’s U.S. Regulatory Affairs group.