This enactment amends the Income Tax Act in order to establish the home security tax credit.

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:

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) $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.

  End of inserted block

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.

Ordering of credits

118.‍92 In 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, Insertion start 118.‍08 Insertion end , 118.‍3, 118.‍61, 118.‍5, 118.‍9, 118.‍8, 118.‍2, 118.‍1, 118.‍62 and 121.