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Bill S-240

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First Session, Forty-fourth Parliament,

70-71 Elizabeth II, 2021-2022

SENATE OF CANADA

BILL S-240
An Act to amend the Old Age Security Act (definition of income)

FIRST READING, March 22, 2022

THE HONOURABLE SENATOR QUINN

4412136


SUMMARY

This enactment amends a reference to the Budget Implementation Act, 2021, No. 1 in the definition of income in the Old Age Security Act.

Available on the Senate of Canada website at the following address:
www.sencanada.ca/en


1st Session, 44th Parliament,

70-71 Elizabeth II, 2021-2022

SENATE OF CANADA

BILL S-240

An Act to amend the Old Age Security Act (definition of income)

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

R.‍S.‍, c. O-9

Old Age Security Act

1Subparagraph (c)‍(i.‍1) of the definition income in section 2 of the Old Age Security Act is replaced by the following:

  • (i.‍1)the amount of the payment under the program referred to in section Insertion start 275 Insertion end of the Budget Implementation Act, 2021, No. 1,

Published under authority of the Senate of Canada



EXPLANATORY NOTES

Old Age Security Act
Clause 1:Relevant portions of the definition:

income of a person for a calendar year means the person’s income for the year, computed in accordance with the Income Tax Act, except that

  • . . .

  • (c)there shall be deducted from the person’s income for the year, to the extent that those amounts have been included in computing that income,

    • . . .

    • (i.‍1)the amount of the payment under the program referred to in section 276 of the Budget Implementation Act, 2021, No. 1,


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