Bill C-13, the COVID-19 Emergency Response Act receives royal assent

After speedy passage through the House of Commons and Senate, Bill C-13 received royal assent on March 25, 2020.

Bill C-13 makes amendments to the wide range of federal Acts needed to implement the Department of Finance’s COVID-19 Economic Response Plan released on March 18. Below are some of the amendments to the Income Tax Act (the “Act”):

  • Section 122.5 of the Act was amended to provide for the increase in the GST/HST credit amounts for eligible individuals;
  • Section 122.6 was amended to provide for the increase in the Canada Child Benefit payments for eligible individuals;
  • Section 153 of the Act was amended to provide for the reduction in employee source deductions for eligible employers for the period from March 18, 2020 to June 1, 2020; and
  • Section 146.3 of the Act was amended to reduce the required minimum withdrawals from registered retirement income funds for 2020 by 25%.

The full text of the COVID-19 Emergency Response Act is available at https://fin.canada.ca/drleg-apl/2020/nwmm-amvm-0320-eng.html

Prepared by: Vivian Esper

Vivian is an is an associate working out of the Vancouver office of Thorsteinssons LLP. Vivian’s practice focuses on tax dispute resolution with the Canada Revenue Agency and Tax Court of Canada.  Her practice also includes tax planning involving individuals,… more »

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