Bill C-480: An Act to amend the Old Age Security Act (funeral arrangements)

C-480 First Session, Forty-first Parliament, 60-61-62 Elizabeth II, 2011-2012-2013 HOUSE OF COMMONS OF CANADA BILL C-480 An Act to amend the Old Age Security Act (funeral arrangements) first reading, February 27, 2013 Mr. Pilon 411701 SUMMARY This enactment amends the Old Age Security Act to exclude from the calculation of income, for the purposes of the monthly guaranteed income supplement, the lesser of the amount of benefits received from a registered retirement savings plan or a registered retirement income fund and the amount — not exceeding $2,500 — paid to or under an eligible funeral arrangement. Also available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca 1st Session, 41st Parliament, 60-61-62 Elizabeth II, 2011-2012-2013 house of commons of canada BILL C-480 An Act to amend the Old Age Security Act (funeral arrangements) R.S., c. O-9 Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: 1. Section 10 of the Old Age Security Act is amended by adding the following in alphabetical order: “income”« revenu » “income” means the income determined in accordance with the definition “income” in section 2, from which is deducted for the year the lesser of the amount included for the year in calculating the pensioner’s tax payable under paragraph 56(1)(h) of the Income Tax Act and the amount — not exceeding two thousand five hundred dollars — paid by the pensioner during the year to or under an eligible funeral arrangement entered into in respect of the pensioner. Published under authority of the Speaker of the House of Commons