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Bill C-234

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First Session, Forty-third Parliament,
68-69 Elizabeth II, 2019-2020
HOUSE OF COMMONS OF CANADA
BILL C-234
An Act to amend the Income Tax Act (home security measures)
FIRST READING, February 26, 2020
Mr. Hoback
431081


SUMMARY

This enactment amends the Income Tax Act in order to establish the home security tax credit.
Available on the House of Commons website at the following address:
www.ourcommons.ca


1st Session, 43rd Parliament,
68-69 Elizabeth II, 2019-2020
HOUSE OF COMMONS OF CANADA
BILL C-234
An Act to amend the Income Tax Act (home security measures)

Preamble
Whereas the House of Commons Standing Committee on Public Safety and National Security, in its Thirty-third Report of the 42nd Parliament, recognized that crime in rural areas is of growing concern to rural residents across the country;

Whereas the Committee heard that while crime in rural areas is more acute in western Canada, eastern provinces are also experiencing high crime rates in rural areas;
And whereas the Committee heard from witnesses of incidents related to property crimes, such as break-ins, thefts and, in some cases, violent assaults, including sexual violence and violence towards women;
Now, therefore, 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(1)The Income Tax Act is amended by adding the following after section 118.‍07:
Definitions
118.‍08(1)The following definitions apply in this section.
eligible home, in respect of an individual, means a self-contained domestic establishment and includes any structure that is separate from the establishment, such as a garage or a barn. (domicile admissible)
qualifying home security expenditure of an individual for a taxation year means an expense incurred by the individual during the taxation year for the acquisition, installation, maintenance and monitoring of a security system installed in the individual’s eligible home. (dépense admissible pour la sécurité domiciliaire)
Home security tax credit
(2)For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted the amount determined by the formula
A × B
where
A
is the appropriate percentage for the taxation year; and
B
is the lesser of
(a)$5,000, and
(b)the total of all amounts each of which is a qualifying home security expenditure incurred by the individual in the taxation year.
Apportionment of credit
(3)If more than one individual is entitled to a deduction under this section for a taxation year in respect of the same eligible home, the total of all amounts so deductible shall not exceed the maximum amount that would be so deductible for the year by any one of those individuals for that home if that individual were the only individual entitled to deduct an amount for the year under this section, and if the individuals cannot agree as to what portion of the amount each can so deduct, the Minister may fix the portions.
(2)Subsection (1) applies to the 2020 and subsequent taxation years.
2(1)Section 118.‍92 of the Act is replaced by the following:
Ordering of credits
118.‍92In computing an individual’s tax payable under this Part, the following provisions shall be applied in the following order: subsections 118(1) and (2), section 118.‍7, subsections 118(3) and (10) and sections 118.‍01, 118.‍02, 118.‍04, 118.‍041, 118.‍05, 118.‍06, 118.‍07, 118.‍08, 118.‍3, 118.‍61, 118.‍5, 118.‍9, 118.‍8, 118.‍2, 118.‍1, 118.‍62 and 121.
(2)Subsection (1) applies to the 2020 and subsequent taxation years.
Published under authority of the Speaker of the House of Commons

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