Bill C-457 (Historical)

An Act to amend the Income Tax Act (interest rates on debts owed) and to make a consequential amendment to the Income Tax Regulations

This bill is from the 39th Parliament, 2nd session, which ended in September 2008.

Sponsor

Introduced as a private member’s bill. (These don’t often become law.)

Status

Outside the Order of Precedence (a private member's bill that hasn't yet won the draw that determines which private member's bills can be debated), as of Oct. 16, 2007
(This bill did not become law.)

Summary

This is from the published bill.

This enactment provides for the rates of interest to be paid in certain circumstances when money is owed to the Receiver General or to the taxpayer.

Similar bills

C-457 (39th Parliament, 1st session) An Act to amend the Income Tax Act (interest rates on debts owed) and to make a consequential amendment to the Income Tax Regulations

Elsewhere

All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.

Bill numbers are reused for different bills each new session. Perhaps you were looking for one of these other C-457s:

C-457 (2019) An Act to amend the Employment Equity Act

C-457 (2012) An Act to repeal the Clarity Act

C-457 (2010) An Act respecting the Insurance Business (Banks and Bank Holding Companies) Regulations

C-457 (2009) An Act respecting the Insurance Business (Banks and Bank Holding Companies) Regulations

C-457 (2005) An Act to change the name of the electoral district of Simcoe--Grey

Other House mentions

Income Tax ActRoutine Proceedings

June 12th, 2007 / 10:05 a.m.

See context

Conservative

Brian Pallister Conservative Portage—Lisgar, MB

moved for leave to introduce Bill C-457, An Act to amend the Income Tax Act (interest rates on debts owed) and to make a consequential amendment to the Income Tax Regulations.

Mr. Speaker, for the last 12 years Revenue Canada has credited the interest on refunds owing to Canadians at a rate lower than the rate it has charged those same Canadians when they owed Revenue Canada. This bill proposes to make the rate the same for Canadians who are owed money and those who owe it, so that we equalize the treatment of Canadians under the Income Tax Act. I would urge members of the House of Commons to support that concept and this bill.

(Motions deemed adopted, bill read the first time and printed)