Bill C-477
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1st Session, 37th Parliament, 49-50-51 Elizabeth II, 2001-2002
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House of Commons of Canada
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BILL C-477 |
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An Act to amend the Income Tax Act (amateur
sport fees)
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| Preamble
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Whereas many Canadians of all ages
participate in amateur sport;
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Whereas the fees for participating in
amateur sport are often high;
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And Whereas tax laws must allow for the
deduction of those fees in order to lower the
tax burden of Canadians;
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| R.S., c. 1 (5th
Supp.)
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Now, Therefore, Her Majesty, by and with the
advice and consent of the Senate and House of
Commons of Canada, enacts as follows:
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1. The Income Tax Act is amended by
adding the following after section 118.95:
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| Credit for the
cost of
participating
in amateur
sport
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118.96 (1) For the purpose of computing an
individual's tax payable under this Part for a
taxation year, there may be deducted the
amount determined by the formula
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A x B
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where
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A is the appropriate percentage for the year;
and
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B is the total of all fees paid by the individual
in the year for the individual or a
dependant of the individual to participate
in amateur sport.
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| Definitions
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(2) The following definitions apply to this
section.
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| ``amateur
sport'' « sport amateur »
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``amateur sport'' means any sport in which the
individual or a dependant of the individual
participates at any level other than a
professional level without any
remuneration being received.
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| ``dependant'' « personne à charge »
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``dependant'' means a person who in a
taxation year is the child, grandchild, niece
or nephew of the individual or of the
individual's spouse or common-law
partner, and who resides with the individual
or the individual's spouse or common-law
partner in Canada at any time in the year.
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| Filing of
vouchers
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(3) The individual must file, with the
individual's return of income for the year,
vouchers stating the fees paid by the
individual for the participation of the
individual or a dependant of the individual in
amateur sport.
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| Regulations
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(4) The Governor in Council may make
regulations prescribing the types of fees that
may be deducted under subsection (1).
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