This bill, known as the Economic and Fiscal Update Implementation Act, 2021, implements certain provisions outlined in the economic and fiscal update presented to Parliament on December 14, 2021, as well as other measures.
The bill has several parts.
In Part 1, amendments are made to the Income Tax Act and Income Tax Regulations. These changes include the introduction of a new refundable tax credit for eligible businesses to cover ventilation expenses related to improving air quality. It also expands the travel component of the northern residents deduction, allowing all northern residents to claim up to $1,200 in eligible travel expenses, even if they haven't received travel assistance from their employer. The School Supplies Tax Credit is also expanded from 15% to 25% and now includes electronic devices used by eligible educators. Additionally, a new refundable tax credit is introduced to return fuel charge proceeds to farming busi
That the motion be amended by deleting all the words after the word “That” and substituting the following:
"Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures, be not now read a third time, but be referred back to the Standing Committee on Finance for the purpose of reconsidering clauses 2, 3, 4, 5, 6, 7, 8 and 9 with a view to remove the income tax provisions of the bill.".
That Bill C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures, as amended, be concurred in at report stage.
That in relation to C-8, An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures, not more than one further sitting day shall be allotted to the consideration of the report stage and five hours shall be allotted to the consideration at third reading stage of the said bill; and
That, 15 minutes before the expiry of the time provided for Government Orders on the day allotted to the consideration at report stage and at the end of the five hours provided for the consideration at third reading stage of the said bill, any proceedings before the House shall be interrupted, if required for the purpose of this order, and in turn every question necessary for the disposal of the said stage of the bill then under consideration shall be put forthwith and successively without further debate or amendment.