moved for leave to introduce Bill C-518, an act to amend the Income Tax Act (deduction of property taxes paid in respect of a principal residence).
Mr. Speaker, I am delighted to introduce this private member's bill today because it illustrates one of the greatest areas of double taxation in this country, where we pay taxes on taxes.
This particular bill will amend the Income Tax Act in such a way that property taxes can be deducted from taxable income so that we stop giving the federal government 66% of the amount of money we pay in municipal taxes.
(Motions deemed adopted, bill read the first time and printed)