FINA Committee Meeting
Notices of Meeting include information about the subject matter to be examined by the committee and date, time and place of the meeting, as well as a list of any witnesses scheduled to appear. The Evidence is the edited and revised transcript of what is said before a committee. The Minutes of Proceedings are the official record of the business conducted by the committee at a sitting.
For an advanced search, use Publication Search tool.
If you have any questions or comments regarding the accessibility of this publication, please contact us at accessible@parl.gc.ca.
Publication Selector by Date
| June | ||||||
|---|---|---|---|---|---|---|
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
|
8
|
9
|
10
|
11
|
12
|
13
|
14
|
|
15
|
17
|
18
|
19
|
20
|
21
|
|
|
22
|
23
|
24
|
25
|
26
|
27
|
28
|
|
29
|
30
|
|||||
| July | ||||||
|---|---|---|---|---|---|---|
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|
1
|
2
|
3
|
4
|
5
|
||
|
6
|
7
|
8
|
9
|
10
|
11
|
12
|
|
13
|
14
|
15
|
16
|
17
|
18
|
19
|
|
20
|
21
|
22
|
23
|
24
|
25
|
26
|
|
27
|
28
|
29
|
30
|
31
|
||
| August | ||||||
|---|---|---|---|---|---|---|
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|
1
|
2
|
|||||
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
|
10
|
11
|
12
|
13
|
14
|
15
|
16
|
|
17
|
18
|
19
|
20
|
21
|
22
|
23
|
|
24
|
25
|
26
|
27
|
28
|
29
|
30
|
|
31
|
||||||
| September | ||||||
|---|---|---|---|---|---|---|
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|
1
|
2
|
3
|
4
|
5
|
6
|
|
|
7
|
8
|
9
|
10
|
11
|
12
|
13
|
|
14
|
15
|
16
|
18
|
19
|
20
|
|
|
21
|
23
|
24
|
25
|
26
|
27
|
|
|
28
|
29
|
30
|
||||
| October | ||||||
|---|---|---|---|---|---|---|
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|
2
|
3
|
4
|
||||
|
5
|
7
|
9
|
10
|
11
|
||
|
12
|
13
|
14
|
15
|
16
|
17
|
18
|
|
19
|
21
|
23
|
24
|
25
|
||
|
26
|
28
|
30
|
31
|
|||
Minutes of Proceedings
The witnesses answered questions.
The committee commenced its clause-by-clause study of the Bill.
Pursuant to Standing Order 75(1), consideration of Clause 1 (short title) was postponed.
The Chair called Clause 2.
On Clause 2,
Pursuant to the order adopted by the committee on Monday, June 16, 2025, the following amendment, submitted by Don Davies for the consideration of the committee, was deemed moved : That Bill C-4, in Clause 2, be amended(a) by replacing line 9 on page 2 with the following:
“(e) if the amount taxable is greater than $253,414, but is equal to or less than $1,000,000, the”
(b) by adding after line 13 on page 2 the following:
“(f) if the amount taxable is greater than $1,000,000, the maximum amount determinable in respect of the taxation year under paragraph (e), plus 37% of the amount by which the amount taxable exceeds $1,000,000 for the year.”
Debate arose thereon.
The Chair ruled the proposed amendment inadmissible because it was beyond the scope of the Bill, as provided on page 770 of House of Commons Procedure and Practice, Third Edition.
“(2) Paragraph 117(2)(a) of the Act is replaced by the following:
(a) 14% of the amount taxable, if the amount taxable is equal to or less than the amount determined for the taxation year in respect of $57,375;
(3) Paragraph 117(2)(a) of the Act is replaced by the following:
(a) 13.5% of the amount taxable, if the amount taxable is equal to or less than the amount determined for the taxation year in respect of $57,375;
(4) Paragraph 117(2)(a) of the Act is replaced by the following:
(a) 12.75% of the amount taxable, if the amount taxable is equal to or less than the amount determined for the taxation year in respect of $57,375;
(5) Subsection (1) is deemed to have come into force on January 1, 2025.
(6) Subsection (2) comes into force or is deemed to have come into force on January 1, 2026.
(7) Subsection (3) comes into force on January 1, 2027.
(8) Subsection (4) comes into force on January 1, 2028.”
Debate arose thereon.
At 6:13 p.m., the meeting was suspended.
At 6:19 p.m., the meeting resumed.
By unanimous consent, the amendment was withdrawn.
Clause 2 carried on division.
On Clause 2.1,
Pursuant to the order adopted by the committee on Monday, June 16, 2025, the following amendment, submitted by Don Davies for the consideration of the committee, was deemed moved : That Bill C-4 be amended by adding after line 20 on page 2 the following new clause:“Report
2.1 (1) The Minister of Finance must prepare a report that outlines the impact of reducing the personal income tax rate provided in paragraph 117(2)(a) of the Income Tax Act on all tax credits that are calculated using the appropriate percentage as defined in that Act.
Tabling
(2) The Minister of Finance must cause the report to be tabled in each House of Parliament within 90 days after the day on which this section comes into force or, if the House is not then sitting, on any of the first 15 days of the next sitting of the House.
Publication
(3) The Minister of Finance must publish the report on the website of the Department of Finance within 10 days after the day on which the report is tabled in both Houses of Parliament.”
Debate arose thereon.
At 6:30 p.m., the committee adjourned to the call of the Chair.