C-641
Third Session, Fortieth Parliament,
59-60 Elizabeth II, 2010-2011
HOUSE OF COMMONS OF CANADA
BILL C-641
An Act to amend the Income Tax Act (death benefit)
first reading, March 21, 2011
Ms. Neville
403329
SUMMARY
This enactment amends the Income Tax Act to eliminate any income tax payable on a death benefit received under the Canada Pension Plan or a provincial pension plan.
Also available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca
.vis1 {position: absolute;display:block;}
.vis2 {position: static;}
3rd Session, 40th Parliament,
59-60 Elizabeth II, 2010-2011
house of commons of canada
BILL C-641
An Act to amend the Income Tax Act (death benefit)
R.S., c. 1 (5th Supp.)
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
1. Paragraph 56(1)(a.1) of the Income Tax Act is repealed.
2. Subsection 81(1) of the Act is amended by striking out “or” at the end of paragraph (q) and by adding the following after paragraph (r):
(s) a benefit received under section 71 of the Canada Pension Plan or under a similar provision of a provincial pension plan as defined in section 3 of that Act; or
(t) where the taxpayer is an estate that arose on or as a consequence of the death of an individual, each benefit received under section 71 of the Canada Pension Plan, or under a similar provision of a provincial pension plan as defined in section 3 of that Act, after July 1997 and in the year in respect of the death of the individual.
Published under authority of the Speaker of the House of CommonsAvailable from:Publishing and Depository ServicesPublic Works and Government Services Canada