C-48 41st Parliament, 1st session June 2, 2011, to September 13, 2013

An Act to amend the Income Tax Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the First Nations Goods and Services Tax Act and related legislation
Short title: Technical Tax Amendments Act, 2012
Bill type
House Government Bill
This bill received royal assent on June 26, 2013

Statutes of Canada 2013, c. 34

Progress

End of stage activity
Introduction and first reading, November 21, 2012
Chamber sittings
Sitting date Debates (Hansard)
November 21, 2012
End of stage activity
Second reading and referral to committee, March 8, 2013
Chamber sittings
Sitting date Debates (Hansard)
January 28, 2013
Sitting 198
Major speeches
Show major speeches at second reading
February 15, 2013
February 27, 2013
March 8, 2013
Sitting 222
Agreed to (Journals 222)
2nd reading and referral to committee - FINA
End of stage activity
Committee report presented, March 27, 2013
Committee meetings
Meeting date Minutes
March 19, 2013
Meeting 110
March 26, 2013
Meeting 112
Chamber sittings
Sitting date Debates (Hansard)
March 27, 2013
End of stage activity
Concurrence at report stage, May 21, 2013
Chamber sittings
Sitting date Debates (Hansard)
May 21, 2013
End of stage activity
Third reading, May 29, 2013
Chamber sittings
Sitting date Debates (Hansard)
May 21, 2013
May 27, 2013
May 28, 2013
May 29, 2013
Sitting 258
Agreed to (Vote 702)
3rd reading
End of stage activity
First reading, May 29, 2013
Chamber sittings
Sitting date Debates (Hansard)
May 29, 2013
End of stage activities
Second reading, June 6, 2013
Referral to committee, June 6, 2013
Chamber sittings
Sitting date Debates (Hansard)
June 4, 2013
Sitting 169
Major speeches
Show major speeches at second reading
June 6, 2013
Sitting 171
Major speeches
Show major speeches at second reading
End of stage activity
Committee report presented, June 13, 2013
With observations
Committee meetings
Meeting date Details
June 11, 2013
Meeting 88
June 13, 2013
Meeting 90
Chamber sittings
Sitting date Debates (Hansard)
June 13, 2013
End of stage activity
Third reading, June 25, 2013
Chamber sittings
Sitting date Debates (Hansard)
June 17, 2013
June 18, 2013
June 25, 2013

Details

Recorded votes

House of Commons

Vote 630 — March 7, 2013
Result:
Agreed To
Time allocation for Bill C-48, An Act to amend the Income Tax Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the First Nations Goods and Services Tax Act and related legislation
Yeas:
151
Nays:
123
Paired:
0
Total:
274
Vote 696 — May 27, 2013
Result:
Agreed To
Time allocation for Bill C-48, An Act to amend the Income Tax Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the First Nations Goods and Services Tax Act and related legislation
Yeas:
144
Nays:
110
Paired:
0
Total:
254
Vote 702 — May 29, 2013
Result:
Agreed To
3rd reading and adoption of Bill C-48, An Act to amend the Income Tax Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the First Nations Goods and Services Tax Act and related legislation
Yeas:
277
Nays:
1
Paired:
0
Total:
278

Senate

To view the complete list of standing votes that have taken place in the Senate, please refer to the Votes page of the Senate of Canada website.

Speaker's rulings and statements

There are currently no Speaker's rulings and statements.

Major speeches at second reading

House of Commons

Speech date Speech Member of Parliament
January 28, 2013 Sponsor’s speech(Sitting 198) Shelly Glover (Conservative)
January 28, 2013 Response speech(Sitting 198) Peggy Nash (NDP)
January 28, 2013 Response speech(Sitting 198) Scott Brison (Liberal)

Senate

Speech date Speech Senator
June 4, 2013 Sponsor’s speech(Sitting 169) Douglas John Black (Conservative)
June 6, 2013 Response speech(Sitting 171) Wilfred P. Moore (Liberal)

About

Legislative summary

The Library of Parliament does not prepare Legislative Summaries for bills that implement treaties, conventions, agreements or administrative arrangements bills. The following is a short summary:

On 21 November 2012, the Minister of Finance introduced Bill C-48, An Act to amend the Income Tax Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the First Nations Goods and Services Tax Act and related legislation (Technical Tax Amendments Act, 2012), in the House of Commons and it was given first reading.

Part 1 of this enactment implements, in accordance with proposals announced in the March 4, 2010 Budget and released for comment on August 27, 2010, amendments to the provisions of the Income Tax Act governing the taxation of non-resident trusts and their beneficiaries and of Canadian taxpayers who hold interests in offshore investment fund property.

Parts 2 and 3 implement various technical amendments in respect of the Income Tax Act and the Income Tax Regulations relating to the taxation of Canadian multinational corporations with foreign affiliates. The amendments in Part 2 are based on draft proposals released on December 18, 2009. Among other things, Part 2 includes the amendments to the foreign affiliate surplus rules in the Income Tax Regulations that are consequential to the foreign affiliate changes to the Income Tax Act announced in the March 19, 2007 Budget. The amendments in Part 3 are based on draft proposals released on August 19, 2011. Among other things, Part 3 includes revisions to the measures proposed in a package of draft legislation released on February 27, 2004 dealing primarily with reorganizations of, and distributions from, foreign affiliates.

Part 4 deals with provisions of the Income Tax Act that are not amended in Parts 1, 2, 3 or 5 in which the following private law concepts are used: right and interest, real and personal property, life estate and remainder interest, tangible and intangible property and joint and several liability. It enacts amendments, released for comments on July 16, 2010, to ensure that those provisions are bijural, in other words, that they reflect both the common law and the civil law in both linguistic versions. Similar amendments are made in Parts 1, 2, 3 and 5 to ensure that any provision of the Act enacted or amended by those Parts are also bijural.
Part 5 implements a number of income tax measures proposed in the March 4, 2010 Budget and released for comment on May 7, 2010 and August 27, 2010. Most notably, it enacts amendments
(a) relating to specified leasing property;
(b) to provide that conversions of specified investment flow-through (SIFT) trusts and partnerships into corporations are subject to the same loss utilization restrictions as are transactions between corporations;
(c) to prevent foreign tax credit generators; and
(d) implementing a regime for information reporting of tax avoidance transactions.

Part 5 also implements certain income tax measures that were previously announced. Most notably, it enacts amendments announced
(a) on January 27, 2009, relating to the Apprenticeship Completion Grant;
(b) on May 3, 2010, to clarify that computers continue to be eligible for the Atlantic investment tax credit;
(c) on July 16, 2010, relating to technical changes to the Income Tax Act which include amendments relating to the income tax treatment of restrictive covenants;
(d) on August 27, 2010, relating to the introduction of the Fairness for the Self-Employed Act;
(e) on November 5, 2010 and October 31, 2011, relating to technical changes to the Income Tax Act;
(f) on December 16, 2010, relating to changes to the income tax rules concerning real estate investment trusts; and
(g) on March 16, 2011, relating to the deductibility of contingent amounts, withholding tax applicable to certain interest payments made to non-residents, and certain life insurance corporation reserves.

Finally, Part 5 implements certain further technical income tax measures. Most notably, it enacts amendments relating to
(a) labour-sponsored venture capital corporations;
(b) the allocation of income of airline corporations; and
(c) the tax treatment of shares owned by short-term residents.

Part 6 amends the Excise Tax Act to implement technical and housekeeping amendments that include relieving the goods and services tax and the harmonized sales tax on the administrative service of collecting and distributing the levy on blank media imposed under the Copyright Act announced on October 31, 2011.

Part 7 amends the Federal-Provincial Fiscal Arrangements Act to clarify, for greater certainty, the authority of the Minister of Finance and of the Minister of National Revenue to amend administration agreements if the change in question is explicitly contemplated by the language of the agreement and to confirm any amendments that may have been made to those agreements. Part 7 also amends the Federal-Provincial Fiscal Arrangements Act and the First Nations Goods and Services Tax Act to enable the First Nations goods and services tax, imposed under a tax administration agreement between the federal government and an Aboriginal government, to be administered through a provincial administration system, if the province also administers the federal goods and services tax.

Part 8 contains coordinating amendments in respect of those provisions of the Income Tax Act that are amended by this Act and also by the Jobs and Growth Act, 2012 or that need coordination with the Pooled Registered Pension Plans Act.

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