moved for leave to introduce Bill C-523, an act to amend the Income Tax Act and the Income Tax Regulations (Queen Charlotte Islands).
Mr. Speaker, I am pleased to introduce this private member's bill. The intent of the bill is to amend the Income Tax Act to make the Queen Charlotte Islands a prescribed northern zone for the purpose of section 110.7 of that act in recognition of the high costs associated with living in such a very remote area of Canada.
It would also amend the income tax regulations so that the Queen Charlotte Islands would no longer be a prescribed as an intermediate zone for the purpose of section 110.7 of that act.
(Motions deemed adopted, bill read the first time and printed)