Bill

C-377 An Act to amend the Income Tax Act (requirements for labour organizations)

Vote topic

That Bill C-377, in Clause 1, be amended by :

(a) replacing lines 1 to 7 on page 2 with the following:

“(2) Every labour organization and every labour trust shall, by way of electronic filing (as defined in subsection 150.1(1)) and within six months from the end of each fiscal period, file with the Minister an information return for the year, in prescribed form and containing prescribed information.

(3) The information return referred to”

(b) replacing lines 26 to 31 on page 2 with the following:

“assets — with all transactions and all disbursements, the cumulative value of which in respect of a particular payer or payee for the period is greater than $5,000, shown as separate entries along with the name of the payer and payee and setting out for each of those transactions and disbursements its purpose and description and the specific amount that has been paid or received, or that is to be paid or received, and including”

(c) replacing lines 33 to 35 on page 2 with the following:

“(ii) a statement of loans exceeding $250 receivable from officers, employees, members or businesses,”

(d) replacing line 4 on page 3 with the following:

“to officers, directors and trustees, to employees with compensation over $100,000 and to persons in positions of authority who would reasonably be expected to have, in the ordinary course, access to material information about the business, operations, assets or revenue of the labour organization or labour trust, including”

(e) replacing lines 11 to 14 on page 3 with the following:

“consideration provided,

(vii.1) a statement with a reasonable estimate of the percentage of time dedicated by persons referred to in subparagraph (vii) to each of political activities, lobbying activities and other non-labour relations activities,

(viii) a statement with the aggregate amount of disbursements to”

(f) replacing lines 22 to 25 on page 3 with the following:

“provided,

“(viii.1) a statement with a reasonable estimate of the percentage of time dedicated by persons referred to in subparagraph (viii) to each of political activities, lobbying activities and other non-labour relations activities,

(ix) a statement with the aggregate amount of disbursements on”

(g) replacing lines 33 to 40 on page 3 with the following:

“(xiii) a statement with the aggregate amount of disbursements on administration,

(xiv) a statement with the aggregate amount of disbursements on general overhead,

(xv) a statement with the aggregate amount of disbursements on organizing activities,

(xvi) statement with the aggregate amount of disbursements on collective bargaining activities,”

(h) replacing lines 1 and 2 on page 4 with the following:

“(xix) a statement with the aggregate amount of disbursements on legal activities, excluding information protected by solicitor-client privilege,

(xix.1) a statement of disbursements (other than disbursements included in a statement referred to in any of subparagraphs (iv), (vii), (viii) and (ix) to (xix)) on all activities other than those that are primarily carried on for members of the labour organization or labour trust, excluding information protected by solicitor-client privilege, and”

(i) replacing lines 4 to 13 on page 4 with the following:

“( c) a statement for the fiscal period listing the sales of investments and fixed assets to, and the purchases of investments and fixed assets from, non-arm’s length parties, including for each property a description of the property and its cost, book value and sale price;

( d) a statement for the fiscal period listing all other transactions with non-arm’s length parties; and

( e) in the case of a labour organization or”

(j) replacing line 29 on page 4 with the following:

“contained in the information return”

(k) replacing lines 33 to 35 on page 4 with the following:

“Internet site in a searchable format.

(5) For greater certainty, a disbursement referred to in any of subparagraphs (3)( b)(viii) to (xx) includes a disbursement made through a third party or contractor.

(6) Subsection (2) does not apply to

( a) a labour-sponsored venture capital corporation; and

( b) a labour trust the activities and operations of which are limited exclusively to the administration, management or investments of a deferred profit sharing plan, an employee life and health trust, a group sickness or accident insurance plan, a group term life insurance policy, a private health services plan, a registered pension plan or a supplementary unemployment benefit plan.

(7) Subsection (3) does not require the reporting of

( a) information, regarding disbursements and transactions of, or the value of investments held by, a labour trust (other than a trust described in paragraph (6)(b)), that is limited exclusively to the direct expenditures or transactions by the labour trust in respect of a plan, trust or policy described in paragraph (6)(b);

( b) the address of a person in respect of whom paragraph (3)(b) applies; or

( c) the name of a payer or payee in respect of a statement referred to in any of subparagraphs (3)(b)(i), (v), (ix), (xiii) to (xvi) and (xix).”

See context in the Debates.

Result

  • Yes 152
  • No 130
  • Conservative
  • Green Liberal Bloc NDP

Bloc

Conservative

Green

Independent

Liberal

NDP