FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 53

Wednesday, December 8, 2010

The Standing Committee on Finance met at 3:47 p.m. this day, in Room C-120, 1 Wellington Street, the Chair, James Rajotte, presiding.

Members of the Committee present: Kelly Block, Hon. Scott Brison, Robert Carrier, Bernard Généreux, Russ Hiebert, Ted Menzies, Thomas J. Mulcair, Massimo Pacetti, Daniel Paillé, James Rajotte, Paul Szabo and Mike Wallace.

Other Members present: Hon. Albina Guarnieri.

In attendance: Library of Parliament: Mark Mahabir, Analyst ; Brett Stuckey, Analyst . House of Commons: Wayne Cole, Legislative Clerk ; David-Andrés Novoa, Committee Clerk.

Witnesses: Canada Revenue Agency: Cathy Hawara, Director General, Charities Directorate, Legislative Policy and Regulatory Affairs Branch; Bryan McLean, Director, Policy, Planning and Legislation Division, Charities Directorate, Legislative Policy and Regulatory Affairs Branch. Department of Finance: Edward Short, Senior Chief, Tax Legislation Division; Sharmila Khare, Chief, Personal Income Tax Division.

The Committee proceeded to the consideration of matters related to Committee business.

It was agreed, — That in relation to the study of Bill C-470, An Act to amend the Income Tax Act (revocation of registration), the proposed budget in the amount of $ 13,850, be adopted.

Pursuant to the Order of Reference of Wednesday, April 21, 2010, the Committee resumed consideration of Bill C-470, An Act to amend the Income Tax Act (revocation of registration).

The Committee commenced its clause-by-clause study of the Bill.

Cathy Hawara and Edward Short answered questions.

The Chair called Clause 1.

On Clause 1,

Ted Menzies moved, — That Bill C-470, in Clause 1, be amended by

(a) deleting line 10 on page 1 to line 2 on page 2;

(b) replacing line 3 on page 2 with the following:

(2) Paragraph 149.1(15)(b) of the Act is

pensation of any executive or employee who is paid aggregate compensation in respect of a taxation year of the executive or employee exceeding $100,000 (which amount of $100,000 is to be indexed in respect of the 2012 and following taxation years as if it were referred to in subsection 117.1(1));

(d) adding after line 18 on page 2 the following:

(3) Section 149.1 of the Act is amended by adding the following after subsection (15):

(15.1) Every registered charity that pays aggregate compensation to any executive or employee in respect of a particular taxation year of the executive or employee exceeding $100,000 shall, in addition to the public information return required to be filed under subsection (14) for the taxation year of the charity in which the particular taxation year ends, file with the Minister as an attachment to that return, the information described in subparagraph (15)(b)(ii).

After debate, the question was put on the amendment of Ted Menzies and it was agreed to.

Massimo Pacetti moved, — That Bill C-470, in Clause 1, be amended by replacing line 5 on page 2 with the following:

“(b) the Minister shall make available to the”

After debate, by unanimous consent, it was agreed - That the amendment be amended by adding after the word “shall” the following: “,unless otherwise justified,”

After further debate, the question was put on the amendment, as amended, and it was agreed to.

Clause 1, as amended, carried.

On Clause 2,

Ted Menzies moved, — That Bill C-470, in Clause 2, be amended by replacing line 19 on page 2 with the following:

“2. Section 1 applies to the 2012 and”

After debate, the question was put on the amendment of Ted Menzies and it was agreed to.

Clause 2, as amended, carried.

On Title,

Massimo Pacetti moved, — That Bill C-470 be amended by replacing the long title on page 1 with the following:

“An Act to amend the Income Tax Act (disclosure of compensation — registered charities)”

After debate, the question was put on the amendment of Massimo Pacetti and it was agreed to.

The Bill, as amended, carried.

ORDERED, — That the Chair report the Bill, as amended, to the House.

ORDERED, — That Bill C-470, as amended, be reprinted for the use of the House at report stage.

At 4:35 p.m., the Committee adjourned to the call of the Chair.

Jean-François Pagé
Clerk of the Committee

2010/12/10 12:55 p.m.