Interesting Tax Bills 2012

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I’ve provided some of the current tax Bills before Parliament in this 1st session of the 41st parliament.  Though most of the Bills are unlikely to pass, they raise the question of what tax legislation is for – whether tax legislation ought to be limited to raising funds for government expenditures, or whether such legislation ought to be used as a regulatory tool.

C-427 – Seeks to introduce income averaging for Canadian artists over a maximum 5 year period.

C-433 – Seeks to allow for a non-refundable tax credit to cover the cost of transportation between home and school during lunch hours for elementary schools students

C-431 – Seeks to require the CRA to release a taxpayer’s most recent three years’ tax returns to those the taxpayer has a legal obligation to make child support payments

C-399 – Seek to provide a minimum of $500 and a maximum of $1,500 tax credit for travel expenses for those performing a minimum of 130 hours of eligible volunteer services and make a minimum of 12 trips in so doing.

C-397 – Seeks to allow a deduction for expenses incurred for the use of golf courses and facilities

C-395 – Seeks to provide an exemption for employee transportation benefits

C-377 – Seeks to require labour organization to provide their financial information to the MNR for public disclosure

C-367 – seeks to provide a refundable tax credit to veterans for payments made to prescribed veterans organizations.

C-363 – Seeks to introduce an act that will permit individuals who have religious or moral objections to paying taxes that may be used for military purposes to request that an amount equal to the military portion be paid to a fund for non-military peace building purposes

C-353 – seeks to make eligible energy efficient products more affordable by providing a credit under the ITA for purchase of those products and to make them exempt from the ETA.

C-347 – Seeks to level the tax-credit playing field between gifts to charities and contributions to federal political parties

C-341 – Seeks to provide a tax credit to new graduates that settle in and work in designated regions in Canada to promote the economic development of under-served regions.