Bill
C-452
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ENGLISHSUMMARYSUMMARY1 Income Tax Act1 Income Tax Act
First Session, Forty-second Parliament,
64-65-66-67-68 Elizabeth II, 2015-2016-2017-2018-2019
HOUSE OF COMMONS OF CANADA
BILL C-452
An Act to amend the Income Tax Act (gift in virtual currency)
FIRST READING, May 17, 2019
Mr. Albas
421553
SUMMARY
This enactment amends the Income Tax Act to provide that a taxpayer’s taxable capital gain for a taxation year from the disposition of a property is equal to zero if the disposition is the making of a gift in an eligible virtual currency to a qualified donee.
Available on the House of Commons website at the following address:
www.ourcommons.ca
1st Session, 42nd Parliament, 
64-65-66-67-68 Elizabeth II, 2015-2016-2017-2018-2019
HOUSE OF COMMONS OF CANADA
BILL C-452
An Act to amend the Income Tax Act (gift in virtual currency)
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
R.‍S.‍, c. 1 (5th Supp.‍)
Income Tax Act
1 Subparagraph 38(a.‍1)‍(i) of the Income Tax Act is replaced by the following:
(i) the disposition is the making of a gift to a qualified donee of a share, debt obligation or right listed on a designated stock exchange, a share of the cap­ital stock of a mutual fund corporation, a unit of a mutual fund trust, an interest in a related segrega­ted fund trust (within the meaning assigned by paragraph 138.‍1(1)‍(a)), a prescribed debt obligation or an amount denominated in an eligible virtual currency,
2 Subsection 221(1) of the Act is amended by striking out “and” at the end of paragraph (i) and by adding the following after that paragraph:
(i.‍1) establishing a schedule that sets out a list of ineligible virtual currencies for the purpose of subparagraph 38(a.‍1)‍(i); and
Published under authority of the Speaker of the House of Commons
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