Bill C-520
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C-520
Second Session, Thirty-ninth Parliament,
56-57 Elizabeth II, 2007-2008
HOUSE OF COMMONS OF CANADA
BILL C-520
An Act to amend the Income Tax Act (Home Buyers' Plan)
first reading, March 3, 2008
Mr. Cummins
392154
SUMMARY
This enactment amends the Income Tax Act to increase the eligible amount for the Home Buyers’ Plan to $25,000.
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2nd Session, 39th Parliament,
56-57 Elizabeth II, 2007-2008
house of commons of canada
BILL C-520
An Act to amend the Income Tax Act (Home Buyers' Plan)
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) Paragraph (h) of the definition “regular eligible amount” in subsection 146.01(1) of the Income Tax Act is replaced by the following:
(h) the total of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000, and
(2) Paragraph (g) of the definition “supplemental eligible amount” in subsection 146.01(1) of the Act is replaced by the following:
(g) the total of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000, and
Published under authority of the Speaker of the House of Commons
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