moved for leave to introduce Bill C-256, an act to amend the Income Tax Act (transfer of income to spouse).
Mr. Speaker, it is a great honour for me to present my first private member's bill in the House of Commons. I would like to thank the member for Madawaska-Victoria for seconding my bill.
The bill would amend the Income Tax Act to allow one spouse to split or to pay up to $25,000 to the other spouse who is managing the family home and caring for at least one dependent child who has not commenced full time attendance at school.
The initiative would recognize the value of work in the family home and would give parents the option of providing direct parental care to their children. It would allow the spouse in the home to be eligible to purchase RRSPs and therefore provide a more equitable retirement income opportunity. Both jobs and day care spaces would be freed up by the initiative by those who could now afford to leave the workforce and remain at home to care for their children.
It is a great honour to present the bill to the House. I look forward to discussing it with my colleagues to garner support for what I believe is an important initiative.
(Motions deemed adopted, bill read the first time and printed.)