Bill C-216 (Historical)
An Act to amend the Income Tax Act (capital gains exemption on disposition of fishing property)
This bill was last introduced in the 39th Parliament, 2nd Session, which ended in September 2008.
This bill was previously introduced in the 39th Parliament, 1st Session.
Lawrence MacAulay Liberal
Introduced as a private member’s bill. (These don’t often become law.)
Introduction and First Reading
(This bill did not become law.)
Income Tax Act
April 7th, 2006 / 12:05 p.m.
Lawrence MacAulay Cardigan, PE
moved for leave to introduce Bill C-216, An Act to amend the Income Tax Act (capital gains exemption on disposition of fishing property).
Mr. Speaker, the Income Tax Act allows an individual to claim a $500,000 cumulative lifetime exemption for capital gains that arise from the disposition of qualified farm properties. This enactment would amend the act so that an individual may claim this exemption in respect of qualified fishing property.
(Motions deemed adopted, bill read the first time and printed)