Bill C-356
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C-356
Second Session, Fortieth Parliament,
57-58 Elizabeth II, 2009
HOUSE OF COMMONS OF CANADA
BILL C-356
An Act to amend the Income Tax Act (volunteers)
first reading, April 1, 2009
Mr. D'Amours
402204
SUMMARY
This enactment amends the Income Tax Act to provide a $500 tax credit to individuals who perform a minimum of 250 hours of volunteer work during the tax year.
Also available on the Parliament of Canada Web Site at the following address:
http://www.parl.gc.ca
http://www.parl.gc.ca
2nd Session, 40th Parliament,
57-58 Elizabeth II, 2009
house of commons of canada
BILL C-356
An Act to amend the Income Tax Act (volunteers)
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. The Income Tax Act is amended by adding the following after section 118.7:
Credit for volunteer work
118.71 (1) For the purpose of computing the tax payable under this Part by an individual for a taxation year, there may be deducted the amount of $500, when that individual performed a minimum of 250 hours, during the taxation year, of volunteer work for a registered charity, non-profit organization, municipality or public authority without receiving a salary or other form of compensation.
Prescribed form
(2) The tax credit provided for in subsection (1) is allowed only if the individual presents with his or her tax return for the year the prescribed form issued by the organization for which he or she worked as a volunteer indicating the total number of hours of volunteer work performed.
2. Section 118.92 of the Act is replaced by the following:
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, 118.03, 118.3, 118.61, 118.5, 118.6, 118.9, 118.8, 118.2, 118.1, 118.71, 118.62 and 121.
3. Subsection 149(12) of the Act is amended by striking out “or” at the end of paragraph (b) and by adding the following after paragraph (b):
(b.1) the person presented the prescribed form mentioned in section 118.71 during the year; or
4. Section 230 of the Act is amended by adding the following after subsection (2.1):
Record
(2.2) Every person who presents the prescribed form mentioned in section 118.71 must keep records and books of account at an address in Canada recorded with the Minister or designated by the Minister containing
(a) a duplicate of each prescribed form issued to an individual; and
(b) other information in such form as will enable the Minister to verify the number of hours of volunteer work performed by that individual for which a tax credit is available under this Act.
Published under authority of the Speaker of the House of Commons
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