Bill C-8

Economic and Fiscal Update Implementation Act, 2021

An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures

Sponsor

Chrystia Freeland  Liberal

Status

This bill has received Royal Assent and is, or will soon become, law.

Summary

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

Part 1 amends the Income Tax Act and the Income Tax Regulations in order to
(a) introduce a new refundable tax credit for eligible businesses on qualifying ventilation expenses made to improve air quality;
(b) expand the travel component of the northern residents deduction by giving all northern residents the option to claim up to $1,200 in eligible travel expenses even if the individual has not received travel assistance from their employer;
(c) expand the School Supplies Tax Credit from 15% to 25% and expand the eligibility criteria to include electronic devices used by eligible educators; and
(d) introduce a new refundable tax credit to return fuel charge proceeds to farming businesses in backstop jurisdictions.
Part 2 enacts the Underused Housing Tax Act . This Act implements an annual tax of 1% on the value of vacant or underused residential property directly or indirectly owned by non-resident non-Canadians. It sets out rules for the purpose of establishing owners’ liability for the tax. It also sets out applicable reporting and filing requirements. Finally, to promote compliance with its provisions, this Act includes modern administration and enforcement provisions aligned with those found in other taxation statutes.
Part 3 provides for a six-year limitation or prescription period for the recovery of amounts owing with respect to a loan provided under the Canada Emergency Business Account program established by Export Development Canada.
Part 4 authorizes payments to be made out of the Consolidated Revenue Fund for the purpose of supporting ventilation improvement projects in schools.
Part 5 authorizes payments to be made out of the Consolidated Revenue Fund for the purpose of supporting coronavirus disease 2019 (COVID-19) proof-of-vaccination initiatives.
Part 6 authorizes the Minister of Health to make payments of up to $1.72 billion out of the Consolidated Revenue Fund in relation to coronavirus disease 2019 (COVID-19) tests. It also sets out reporting requirements for the Minister of Health.
Part 7 amends the Employment Insurance Act to specify the maximum number of weeks for which benefits may be paid in a benefit period to certain seasonal workers.

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

May 4, 2022 Passed 3rd reading and adoption of Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures
May 4, 2022 Failed Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures (recommittal to a committee)
May 4, 2022 Failed 3rd reading and adoption of Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures (subamendment)
May 2, 2022 Passed Concurrence at report stage of Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures
May 2, 2022 Failed Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures (report stage amendment)
April 28, 2022 Passed Time allocation for Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures
Feb. 10, 2022 Passed 2nd reading of Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures

Finance Committee, on Feb. 14, 2022

  • Maximilian Baylor, Senior Director, Saving and Investment Section, Business Income Tax Division, Tax Policy Branch, Department of Finance
  • Pierre Leblanc, Director General, Personal Income Tax Division, Tax Policy Branch, Department of Finance
  • Clerk of the Committee, Mr. Alexandre Roger
  • Pierre Mercille, Director General, Sales Tax Legislation, Sales Tax Division, Tax Policy Branch, Department of Finance
  • Phil King, Director General, Sales Tax Division, Tax Policy Branch, Department of Finance
  • Robert Ives, Senior Advisor, Sales Tax Division, Tax Policy Branch, Department of Finance
  • Lindsay Gwyer, Director General, Legislation, Tax Legislation Division, Tax Policy Branch, Department of Finance
  • Cameron MacDonald, Assistant Deputy Minister, Strategy, Integration and Data, COVID-19 Testing Secretariat, Department of Health
  • Galen Countryman, Director General, Federal-Provincial Relations and Social Policy Branch, Department of Finance
  • Anamika Mona Nandy, Executive Director, Temporary Measures and Special Projects Division, Skills and Employment Branch, Department of Employment and Social Development
  • Sylvain Noël, Manager, Policy Analysis and Initiatives, Employment Insurance Policy, Skills and Employment Branch, Department of Employment and Social Development
  • Stephen Bent, Acting Vice-President, COVID-19 Vaccine Rollout Task Force, Public Health Agency of Canada
  • Ling Wang, Senior Director, Financial Programs and Strategy, Financial Services Division, Financial Sector Policy Branch, Department of Finance
  • Brian J. Arnold, Professor Emeritus, As an Individual
  • Amanjit Lidder, Senior Vice President and Partner, Tax Services, MNP LLP
  • Kim G. C. Moody, Chief Executive Officer, Moodys Private Client LLP
  • Jamie Irving, Chair, News Media Canada
  • Paul Deegan, President and Chief Executive Officer, News Media Canada
  • Gisèle Tassé-Goodman, President, Provincial Secretariat, Réseau FADOQ
  • Danis Prud'homme, Chief Executive Officer, Provincial Secretariat, Réseau FADOQ
  • Carol Anne Hilton, Chief Executive Officer, Indigenomics Institute, As an Individual

Finance Committee, on Feb. 17, 2022

  • Patrick Taillon, Professor and Associate Director of the Centre for Constitutional and Administrative Law Studies , Faculty of Law, Université Laval, As an Individual
  • Mark Agnew, Senior Vice-President, Policy and Government Relations, Canadian Chamber of Commerce
  • Yves Giroux, Parliamentary Budget Officer, Office of the Parliamentary Budget Officer
  • James Cohen, Executive Director, Transparency International Canada
  • Clerk of the Committee, Mr. Alexandre Roger

Finance Committee, on Feb. 28, 2022