Bill C-301 (Historical)

An Act to amend the Income Tax Act and to make a related amendment to another Act (registered retirement income fund)

This bill was last introduced in the 42nd Parliament, 1st Session, which ended in September 2019.

Sponsor

Kelly McCauley  Conservative

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

Status

Defeated, as of Dec. 13, 2016
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment amends the Income Tax Act to remove the requirement to withdraw minimum amounts from a registered retirement income fund. It also makes a related amendment to another Act.

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.

Votes

Dec. 13, 2016 Failed That the Bill be now read a second time and referred to the Standing Committee on Finance.

Income Tax ActRoutine Proceedings

September 23rd, 2016 / 12:05 p.m.
See context

Conservative

Kelly McCauley Conservative Edmonton West, AB

moved for leave to introduce Bill C-301, An Act to amend the Income Tax Act and to make a related amendment to another Act (registered retirement income fund).

Mr. Speaker, I would like to thank the member for Elgin—Middlesex—London for seconding this important piece of legislation.

This bill would remove the mandatory minimum withdrawal requirements from registered retirement income funds, enabling seniors to save their hard-earned money for when they need it most and manage their savings as they see fit. Seniors should not be penalized for saving their money for retirement. This is why I look forward to the support of all my hon. colleagues for this particular legislation that would help our seniors.

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