One of the most anticipated Commons Finance Committee hearings in many years – those dealing with Bill C-470 – has been put off to allow for more hearing time and presumably more witnesses. Bill C-470 is the private member’s bill which would allow CRA to revoke the registration of charities if any employee has total remuneration of more than $250,000. We originally reported on this bill in the April edition of this Newsletter.
Based on what we have heard, numerous individuals, charities and umbrella groups are lining up in opposition to the bill and are awaiting the hearings at which they can testify in opposition to this proposed legislation.
The Committee stated as follows with regard to the extension:
“Your Committee’s request for an extension is due to the fact that in order to give the Bill proper consideration, it will be necessary to schedule additional meetings to hear the views and comments of a wide-range of witnesses prior to the clause by clause study of Bill C-470.”
Our hope continues to be that the bill will receive a report from the Finance Committee which leads either to its non-passage or substantial amendment. We will continue to update you on the progress of Bill C-470.