moved for leave to introduce Bill C-339, An Act to amend the Income Tax Act (exclusion of income received by an athlete from a non-profit club, society or association).
Mr. Speaker, I want to thank the member for Winnipeg North for seconding the introduction of my very first private member's bill.
It is an act to amend the Income Tax Act to exclude income received by an athlete from a non-profit club, society or association.
We all know that athletes have difficulties making ends meet while they pursue their athletic goals. Many not for profit clubs, societies and associations try to help out and provide some income for athletes.
When income is declared by athletes, however, it can jeopardize scholarships and other opportunities amateur athletes can have because it is seen as being paid. The bill would allow up to $8,000 per year received to be tax free and also would be retroactive.
I look forward to the support of my colleagues in the passage of this important bill.
(Motions deemed adopted, bill read the first time and printed)