An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures

Short title: Economic and Fiscal Update Implementation Act, 2021 Bill C-8 (44-1) Status: Royal assent received Type: House Government Bill Sponsor: Chrystia Freeland, Deputy Prime Minister and Minister of Finance (University—Rosedale) Latest stage: Royal assent Legislative

summary <div>A legislative

summary is currently being prepared for this bill by the Parliamentary Information Education and Research Service of the Library of Parliament. Meanwhile, the following executive

summary is available.<br/><br/>On December 2021, the Deputy Prime Minister and Minister of Finance introduced 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 in the House of Commons and it was given first reading. <br/><br/>Part amends the Income Tax Act and the Income Tax Regulations in order to<br/>(

a) introduce a new refundable tax credit for eligible businesses on qualifying ventilation expenses made to improve air quality;<br/>(

b) expand the travel component of the northern residents deduction by giving all northern residents the option to claim up to $1,200 in eligible travel expenses even if the individual has not received travel assistance from their employer;<br/>(

c) expand the School Supplies Tax Credit from 15% to 25% and expand the eligibility criteria to include electronic devices used by eligible educators; and<br/>(

d) introduce a new refundable tax credit to return fuel charge proceeds to farming businesses in backstop jurisdictions.<br/>Part enacts the Underused Housing Tax Act. This Act implements an annual tax of 1% on the value of vacant or underused residential property directly or indirectly owned by non-resident non-Canadians. It sets out rules for the purpose of establishing owners’ liability for the tax. It also sets out applicable reporting and filing requirements.

Finally, to promote compliance with its provisions, this Act includes modern administration and enforcement provisions aligned with those found in other taxation statutes.<br/>Part provides for a six-year limitation or prescription period for the recovery of amounts owing with respect to a loan provided under the Canada Emergency Business Account program established by Export Development Canada.<br/>Part authorizes payments to be made out of the Consolidated Revenue Fund for the purpose of supporting ventilation improvement projects in schools.<br/>Part authorizes payments to be made out of the Consolidated Revenue Fund for the purpose of supporting coronavirus disease 2019 (COVID-19) proof-of-vaccination initiatives.<br/>Part authorizes the Minister of Health to make payments of up to $1.72 billion out of the Consolidated Revenue Fund in relation to coronavirus disease 2019 (COVID-19) tests.<br/>Part amends the Employment Insurance Act to specify the maximum number of weeks for which benefits may be paid in a benefit period to certain seasonal workers.</div> House of Commons — First reading: Completed (2021-12-15) House of Commons — Second reading: Completed (2022-02-10) House of Commons — Consideration in committee: Completed (2022-03-01) House of Commons — Report stage: Completed (2022-05-02) House of Commons — Third reading: Completed (2022-05-04) Senate — First reading: Completed (2022-05-04) Senate — Second reading: Completed (2022-05-10) Senate — Consideration in committee: Completed (2022-06-08) Senate — Third reading: Completed (2022-06-09) Full bill text is not included in the LEGISinfo JSON export.

Open the official Parliament of Canada bill page for the complete document.