moved for leave to introduce Bill C-480, An Act to amend the Old Age Security Act (funeral arrangements).
Mr. Speaker, I am pleased to introduce my bill today in the House.
I want to begin by thanking my colleague from Pierrefonds—Dollard for seconding my bill.
This bill amends the Old Age Security Act to allow old age security and guaranteed income supplement recipients to withdraw a maximum of $2,500 from an RRSP in order to pay for funeral arrangements in advance.
This sum will still be taxable, but it will be excluded from the calculation of income for the guaranteed income supplement for the following year.
This will enable our seniors who receive the guaranteed income supplement to remove a financial burden from their children while preventing their already modest income from being further diminished. In this way, they can maintain a certain quality of life.
(Motions deemed adopted, bill read the first time and printed)