moved for leave to introduce Bill C-301, an act to amend the Income Tax Act (deduction of property taxes paid in respect of a principal residence).
Mr. Speaker, when homeowners pay their property tax they pay it with money on which they have paid income tax. For example, if they have a $2,400 property tax bill, they have to earn $4,000 in order to pay it.
We are opposed to double taxation and so I am introducing this private member's bill which would do away with that anomaly. It is based on the principle that Canadian taxpayers should not have to pay taxes on money that they earn for the sole purpose of paying taxes.
(Motions deemed adopted, bill read the first time and printed)