Bill C-470
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C-470
Second Session, Fortieth Parliament,
57-58 Elizabeth II, 2009
HOUSE OF COMMONS OF CANADA
BILL C-470
An Act to amend the Income Tax Act (revocation of registration)
first reading, October 29, 2009
Ms. Guarnieri
402381
SUMMARY
This enactment amends the Income Tax Act to revoke the registration of a charitable organization, public foundation or private foundation if the annual compensation it pays to any single executive or employee exceeds $250,000.
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http://www.parl.gc.ca
2nd Session, 40th Parliament,
57-58 Elizabeth II, 2009
house of commons of canada
BILL C-470
An Act to amend the Income Tax Act (revocation of registration)
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. (1) Subsection 149.1(1) of the Income Tax Act is amended by adding the following in alphabetical order:
“compensation”
« rémunération »
« rémunération »
“compensation” includes salaries, wages, commissions, bonuses, fees and honoraria, plus the value of taxable and non-taxable benefits;
(2) Subsection 149.1(2) of the Act is amended by striking out “or” at the end of paragraph (a), by adding “or” at the end of paragraph (b) and by adding the following after paragraph (b):
(c) pays to a single executive or employee annual compensation exceeding $250,000.
(3) Subsection 149.1(3) of the Act is amended by striking out “or” at the end of paragraph (d), by adding “or” at the end of paragraph (e) and by adding the following after paragraph (e):
(f) pays to a single executive or employee annual compensation exceeding $250,000.
(4) Subsection 149.1(4) of the Act is amended by adding “or” at the end of paragraph (d) and by adding the following after paragraph (d):
(e) pays to a single executive or employee annual compensation exceeding $250,000.
(5) Paragraph 149.1(15)(b) of the Act is replaced by the following:
(b) the Minister may make available to the public in such manner as the Minister deems appropriate an annual listing of all registered or previously registered charities indicating for each
(i) the name, location, registration number, date of registration and, in the case of a charity the registration of which has been revoked, annulled or terminated, the effective date of the revocation, annulment or termination, and
(ii) the name, job title and annual compensation of the five executives or employees with the highest compensation;
2. Section 1 applies to the 2011 and subsequent taxation years.
Published under authority of the Speaker of the House of Commons
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