An Act to amend the Income Tax Act (donations involving private corporation shares or real estate)

Sponsor

Marty Morantz  Conservative

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

Status

Defeated, as of June 8, 2022

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Summary

This is from the published bill.

This enactment amends the Income Tax Act to provide an exemption from capital gains tax in respect of certain arm's length dispositions resulting from the donation of real estate or private corporation shares to charities.

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

June 8, 2022 Failed 2nd reading of Bill C-240, An Act to amend the Income Tax Act (donations involving private corporation shares or real estate)

Income Tax ActPrivate Members' Business

June 8th, 2022 / 3:50 p.m.


See context

The Speaker Anthony Rota

Pursuant to order made on Thursday, November 25, 2021, the House will now proceed to the taking of the deferred recorded division on the motion at second reading stage of Bill C-241 under Private Members' Business.

(The House divided on the motion, which was agreed to on the following division:)

Vote #139

Income Tax ActPrivate Members' Business

June 8th, 2022 / 4 p.m.


See context

The Speaker Anthony Rota

I declare the motion carried. Accordingly, the bill stands referred to the Standing Committee on Finance.

(Bill read the second time and referred to a committee)