Bill C-520: An Act to amend the Income Tax Act (Home Buyers' Plan)

C-520 Second Session, Thirty-ninth Parliament, 56-57 Elizabeth II, 2007-2008 HOUSE OF COMMONS OF CANADA BILL C-520 An Act to amend the Income Tax Act (Home Buyers' Plan) first reading, March 3, 2008 Mr. Cummins 392154 SUMMARY This enactment amends the Income Tax Act to increase the eligible amount for the Home Buyers’ Plan to $25,000. Also available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca .vis1 {position: absolute;display:block;} .vis2 {position: static;} 2nd Session, 39th Parliament, 56-57 Elizabeth II, 2007-2008 house of commons of canada BILL C-520 An Act to amend the Income Tax Act (Home Buyers' Plan) 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. (1) Paragraph (h) of the definition “regular eligible amount” in subsection 146.01(1) of the Income Tax Act is replaced by the following: (h) the total of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000, and (2) Paragraph (g) of the definition “supplemental eligible amount” in subsection 146.01(1) of the Act is replaced by the following: (g) the total of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000, and Published under authority of the Speaker of the House of CommonsAvailable from:Publishing and Depository ServicesPublic Works and Government Services Canada