C-395
First Session, Forty-first Parliament,
60-61 Elizabeth II, 2011-2012
HOUSE OF COMMONS OF CANADA
BILL C-395
An Act to amend the Income Tax Act (transportation benefits)
first reading, February 14, 2012
NOTE
2nd Session, 41st Parliament
This bill was introduced during the First Session of the 41st Parliament. Pursuant to the Standing Orders of the House of Commons, it is deemed to have been considered and approved at all stages completed at the time of prorogation of the First Session. The number of the bill remains unchanged.
Mr. Nicholls
411519
SUMMARY
This enactment amends the Income Tax Act to provide for a tax exemption for employee transportation benefits.
Available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca
1st Session, 41st Parliament,
60-61 Elizabeth II, 2011-2012
house of commons of canada
BILL C-395
An Act to amend the Income Tax Act (transportation benefits)
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. The Income Tax Act is amended by adding the following after subsection 81(3.1):
Transportation benefits
(3.2) There shall not be included in computing an individual’s income for a taxation year an amount received by the individual from an employer with whom the individual was dealing at arm’s length for, or reimbursement of, eligible transportation benefits.
Definitions
(3.3) The following definitions apply in this section.
“eligible transportation benefits”« avantage admissible relatif au transport »
“eligible transportation benefits” means
(a) a monthly amount that does not exceed $150 received or paid by the individual to commute from the individual’s place of residence to his or her place of employment on public commuter transit services,
(b) a monthly amount that does not exceed $150 received or paid by the individual to park
(i) near public commuter transit services used to commute to his or her place of employment,
(ii) in order to participate in a carpooling group of three or more persons to commute to his or her place of employment, or
(iii) near his or her place of employment as the driver of a carpooling group of three or more persons,
(c) a yearly amount that does not exceed $240 received or paid by the individual to purchase or maintain a bicycle that is primarily used by the individual to commute to his or her place of employment,
and, for the purposes of this definition, shall not include an amount that is deductible under section 118.02.
“public commuter transit services”« services de transport en commun »
“public commuter transit services” has the same meaning as in subsection 118.02(1).
Published under authority of the Speaker of the House of Commons