moved for leave to introduce Bill C-253, An Act to amend the Income Tax Act (deductibility of RESP contributions).
Mr. Speaker, I am pleased to introduce this bill which would amend the Income Tax Act to make contributions to an RESP deductible from the contributor's taxable income.
Students are facing some difficult concerns with rising tuitions, as well as the importance this spells for the future prosperity of our country in terms of a skilled and educated workforce. We certainly do not want post-secondary education to become the purview of only the wealthy.
The bill would provide a regulatory regime similar to the one governing registered retirement savings plans. It is hoped that the passage of this bill will assist more Canadian families to save for their children's post-secondary education. I look forward to the support of all members of the House.
(Motions deemed adopted, bill read the first time and printed)