moved for leave to introduce Bill C-476, An Act to amend the Income Tax Act (tax credit for gifts).
Mr. Speaker, it is a privilege to introduce this bill. I would like to thank the member for Winnipeg Centre who has been helping me with the bill.
The bill would amend the Income Tax Act and provide for greater donations and return for those individuals who give to the not for profit sector, charities, organization and groups.
In particular, the proposed bill mirrors the political system, where for the first $1,275 that a person gives, charities will be able to issue a greater tax back, so middle and lower income earners will get a better return. It treats the system fairly.
This is a significant change that would help the industry. The charitable industry sector is around 8% of the Canadian economy and employs 2 million people in great causes, everything from seniors and children to universities and colleges.
I would request unanimous consent for the following motion: That, notwithstanding the Standing Orders or usual practices of the House, that this bill, an act to amend the Income Tax Act, be deemed carried at second reading, referred to the committee of the whole, be deemed to have been adopted at committee of the whole and reported without amendment, be deemed to have been concurred in at report stage, without amendment, and be deemed carried at third reading and passed.
