Bill C-305
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1st Session, 39th Parliament,
55 Elizabeth II, 2006
house of commons of canada
BILL C-305
An Act to amend the Income Tax Act (exemption from taxation of 50% of United States social security payments to Canadian residents)
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. Subsection 81(1) of the Income Tax Act is amended by adding the following after paragraph (f):
United States social security
(f.1) 35% of the aggregate of all amounts paid to the taxpayer in the taxation year by or on behalf of the government of the United States as a benefit under United States social security legislation, which percentage is in addition to the 15% of such aggregate that is exempt from Canadian tax pursuant to paragraph 5(a) of Article XVIII of the Convention Between Canada and the United States of America with Respect to Taxes on Income and on Capital, as amended by Schedule V to the Canada-United States Tax Convention Act, 1984;
2. This Act comes into force on a day to be fixed by order of the Governor in Council.
Published under authority of the Speaker of the House of Commons
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