This bill was last introduced in the 43rd Parliament, 2nd Session, which ended in August 2021.
Chrystia Freeland Liberal
This bill has received Royal Assent and is now law.
This is from the published bill.
This enactment amends the Income Tax Act to revise the eligibility criteria, as well as the level of subsidization, under the Canada Emergency Wage Subsidy (CEWS) as part of the response to the coronavirus disease 2019. It also extends the CEWS to June 30, 2021. The enactment further amends the Income Tax Act to introduce the Canada Emergency Rent Subsidy (CERS) in order to support those hardest hit by the coronavirus disease 2019. This subsidy provides relief in respect of rent and interest on debt obligations incurred to acquire real property used by businesses, charities and not-for-profit organizations in the course of their businesses or other activities. The rent subsidy is effective as of September 27, 2020.
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.
Diane Lebouthillier Liberal Gaspésie—Les-Îles-de-la-Madeleine, QC
Madam Chair, the Canada Revenue Agency is an independent agency.
Philip Lawrence Conservative Northumberland—Peterborough South, ON
Madam Chair, again, they are admitting that their actions in 2017, when they directed the CRA to stop taxing employee discounts, was incorrect, inappropriate and perhaps unethical.
Diane Lebouthillier Liberal Gaspésie—Les-Îles-de-la-Madeleine, QC
Madam Chair, our government respects the independence of the CRA, and we will never do what the Conservatives did. They had no problem politically interfering in CRA matters.
Philip Lawrence Conservative Northumberland—Peterborough South, ON
Madam Chair, I think that speaks for itself.
I will go back to the Minister of Finance. Is the Minister of Finance aware of what forecasting is? Because forecasting financials is critical. That is called hypotheticals. It is not part of her job; it is her job.
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, I certainly am and when it comes to offering forecasts, we were clear in the Speech from the Throne about that.
Philip Lawrence Conservative Northumberland—Peterborough South, ON
Madam Chair, will the minister commit to doing forecasting as opposed to what she has been saying for the last three hours. that she does not do hypotheticals, which are hypotheticals?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, we committed in the Speech from the Throne to offer detailed fiscal projections in the fall economic update and we will do that. We are not going to—
Philip Lawrence Conservative Northumberland—Peterborough South, ON
Madam Chair, will the minister commit to the debt-to-GDP ratio not increasing above 100%?
Chrystia Freeland Liberal University—Rosedale, ON
Madam Chair, I was clear in my speech last week on our fiscal guide rail approach and fiscal anchor approach.
James Cumming Conservative Edmonton Centre, AB
Madam Chair, on May 14, I offered many different solutions to the old rent program. Could the Minister of Finance tell us today how many businesses were turned down under that old program?
Income Tax ActGovernment Orders
November 5th, 2020 / 9:45 p.m.
Markham—Thornhill Ontario
Liberal
Mary Ng LiberalMinister of Small Business
Madam Chair, it was wonderful to work with you as the critic. I think you will agree with me that what we have here as legislation really is responsive to those businesses—
The Deputy Chair NDP Carol Hughes
Before I go to the hon. member, I want to remind the hon. minister that she is to address her questions through the Chair.
The hon. member.
James Cumming Conservative Edmonton Centre, AB
Madam Chair, how many businesses do we expect to apply under this new program?
Mary Ng Liberal Markham—Thornhill, ON
Madam Chair, every small business that is eligible should apply to this program.
James Cumming Conservative Edmonton Centre, AB
Madam Chair, under the design of this new program, did the department do a sectoral analysis before designing both these programs, the wage subsidy and the rental program?